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If during a month your average daily credit card balance is $800 and your yearly interest rate is 17%, how much interest do you owe your credit card for that month? A.$8.55 B.$10.79 C.$11.33 D.$22.76
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If during a month your average daily credit card balance is $800 and your yearly interest rate is 17%, how much interest do you owe your credit card for that month?

A.$8.55
B.$10.79
C.$11.33
D.$22.76

User Rakin
by
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1 Answer

4 votes
C $11.33. Take the 17% and divide by 12.  You get 1.42% or so.  Then take 1.42% of 800 and you will get around $11.33 once you take rounding into account.
User ZXX
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