Ask your own question, for FREE!
Mathematics 10 Online
Margied:

Harold opened a credit card at a department store with an APR of 14.55% compounded monthly. What is the APY on this credit card?

bake:

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?  The interest rate charged per period (that is, every month) is 0.1775/12, or 0.15. Thus, if her initial balance were $1750, the first month's interest would be 0.15($1750) = $25.89.

Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!
Can't find your answer? Make a FREE account and ask your own questions, OR help others and earn volunteer hours!

Join our real-time social learning platform and learn together with your friends!