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4 votes
Lenny has a remaining balance on his credit card of $3,000. his credit card has an apr of 20 percent. how much will he pay in interest in one month?

2 Answers

4 votes

Answer:

A=p(1+i/m)^mn

P=3000

i=0.20

M=12

n=1/12

A=3,000×(1+0.20÷12)^(12*1/12)

=3,050

Interest earned=3050-3000=50

Step-by-step explanation:

User Mike Yockey
by
7.7k points
3 votes

i believe that the answer is 50 dollars in one month

User Dalupus
by
7.9k points
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