Question

Susan has a credit card balance of $2000. The credit card company charges 19% per annum simple interest. What is the interest charge on Susan's credit card after 1month?The interest charge is $(Round to the nearest cent.)

Answer 1

Step-by-step explanation

We will use the simple interest formula below;

`S.I=(PRT)/(100)=(2000*19*(1)/(12))/(100)=20*19*(1)/(12)=31.67`

Answer: 31.67 dollars.