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You get a credit card that you spend $500 on. The card has an interest of 17% compounded monthly. How much do you owe at the end of two years?

You get a credit card that you spend $500 on. The card has an interest of 17% compounded monthly. How much do you owe at the end of two years?
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20 votes
You get a credit card that you spend $500 on. The card has an interest of 17%

compounded monthly. How much do you owe at the end of two years?

User Pitel
by
7.5k points

1 Answer

11 votes
$700.80 should be the answer i think
User Anil Nivargi
by
8.7k points
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