Question

your parents have a credit card with a balance of 2,748.56. the interest rate is 10.5% APR. a late payment fee of 40.00 is added to the principal if they pay after 6/1. they make a payment for 300.00 on 6/1. how much interest did they pay?

Answer 1

$24.05

Explanation:

took the test :)

Answer 2

amount interest to be paid on = 2748.56 - 300 = 2448.56

total interest paid = late fees(40) + 10.5%2448.56

total interest paid = 257.0988