Question

What would the one-month interest be for a $5,000 credit card balance with a 12% APR?

$50

$120

$500

$600

Answer 1

I think the answer is 50$ tell me if I’m right :)$

Answer 2

$50

Explanation:

Personally I use a debit and I don't "own" my own card so I'm not good with this stuff quite yet. I looked up a calculator though and $50 seems to be it. (minimum time was 3 months so I divided it by 3 to get $50.)