I really, REALLY need some help!!

Fay opens a credit card with an APR of 15.25% compounded monthly. How much is charged in interest this month if her balance is $1,300?

Answer Choices:

$16.52

$15.25

$108.33

$198.25

Not sure which formula to use D:

Question

I really, REALLY need some help!!

Fay opens a credit card with an APR of 15.25% compounded monthly. How much is charged in interest this month if her balance is $1,300?

Answer Choices:

$16.52

$15.25

$108.33

$198.25

Not sure which formula to use D:

anonymous · Answer

Would it be the simple interest formula? I have a feeling that's wrong haha

anonymous · Answer

@jdoe0001 Do you think you could help me out?

anonymous · Answer

@satellite73 Do you know how to do this type of question? I could use a little help (:

anonymous · Answer

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