Question

Ellie paid $301 for a dress with her credit card on 20 September. Her credit card has an interest-free period of 55 days, and interest is charged at 0.03% per day. Ellie paid off her purchase and interest charge on 14 December. How many days did she accumulate interest on her debt? Assume this credit card charges no interest if you pay within the interest-free period, or interest for every day since the purchase date if you pay after the interest-free period.

Answer 1

Ellie accumulated interest on her credit card debt for 31 days.

Step-by-step explanation:

To calculate the number of days that Ellie accumulated interest on her debt, we need to determine the number of days between the purchase date and the payment date. Ellie made the purchase on 20 September and paid off her debt on 14 December. First, let's calculate the number of days between the two dates:

Total days = (31 - 20) + 30 + 31 + 14 = 86 days.

Next, we can subtract the interest-free period of 55 days from the total days to find the number of days Ellie accumulated interest on her debt:

Number of days with interest = 86 - 55 = 31 days.

Therefore, Ellie accumulated interest on her debt for 31 days.