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Mathematics 45 Online
OpenStudy (anonymous):

Farrah opens a credit card with an APR of 17.75% compounded monthly. How much is charged in interest this month if her balance is $1,750? $17.75 $25.89 $145.83 $310.63

OpenStudy (dumbcow):

\[interest = Balance*\frac{APR}{n}\] since its compounded monthly, n = 12

OpenStudy (anonymous):

what's the balance?

OpenStudy (dumbcow):

what she owes...it says in the question 1750

OpenStudy (anonymous):

I got 258854 :(

OpenStudy (anonymous):

and sorry I didn't see the balance lol

OpenStudy (dumbcow):

did you change percent to decimal....17.75% = 0.1775

OpenStudy (anonymous):

ohh lol I misplaced my decimal lol. It's 25.89 right? :)

OpenStudy (dumbcow):

yep :)

OpenStudy (anonymous):

yay :)

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