Question

If you have $250 on a credit card with a 5% APR, which of the following would calculate the interest on your first bill?

If you have $250 on a credit card with a 5% APR, which of the following would calculate the interest on your first bill? $250 x 5%

$250 x 0.05 x 12

$250 x 0.05 x 1 / 12

$250 x 0.5 x 1 / 12

Answer 1

WILL GIVE MEDAL