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Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is $1550?
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Danielle opens a credit card with an APR of 22.79% compounded monthly. How much is charged in interest this month if her balance is $1550?

User Petrhaus
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1 Answer

2 votes
1550 * 0.2279 / 12 ( monthly interest is 1/12 of APR)

= $29.43
User Chrki
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