Derrick's dad bought new tires for $900 using a credit card. His card has an interest rate of 19%. How much interest will he accrue after 4 months?

Anthony Chua asked Oct 19, 2022

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16 votes

Derrick's dad bought new tires for $900 using a credit card. His card has an

interest rate of 19%. How much interest will he accrue after 4 months?

Anthony Chua asked Oct 19, 2022

3.0k points

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23 votes

Answer:

$57 interest

Explanation:

For an interest rate of 19% ; the monthly interest will be 19/100 = 0.19

4 months interest will be (0.19 * 4)/12 = 0.0633

so now, the value of the interest will be

0.0633 * 900 = $57

Rousseauo answered Oct 24, 2022

2.9k points

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