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OpenStudy (anonymous):
Brooke opens a credit card with an APR of 28.99%. How mush is charged in interest this month if her Balance is $500? A: $12.08 B: $24.16 C: $28.99 D: $144.95
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hero (hero):
Divide the APR by 12 to get the monthly interest rate 28.99%/12 = 2.415% Convert percent to decimal 2.415% = .02415 Multiply the interest rate by the balance to get the interest charge .02415(500) = 12.07
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