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Dae opens a credit card with an APR of 19.49% compounded monthly. How much is charged in interest this month if her balance is $1250? A)19.49 B) 20.30 C) 104.17 D) 243.16
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Dae opens a credit card with an APR of 19.49% compounded monthly. How much is charged in interest this month if her balance is $1250?

A)19.49
B) 20.30
C) 104.17
D) 243.16

User SalonMonsters
by
8.6k points

1 Answer

2 votes
Interest charged
1,250×0.1949×(1÷12)
=20.30
User Sufiyan Ansari
by
7.9k points
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