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How much would you have to repay on a credit card debt of $3500 after three years if the interest rate is 20% compounded half-yearly
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1 vote
How much would you have to repay on a credit card debt of $3500 after three years if the interest

rate is 20% compounded half-yearly

User Yenliangl
by
5.9k points

1 Answer

4 votes

Answer:

700$.

Explanation:

20 รท 100 = 0.2

0.2 x $3,500 = 700$

User Kundan
by
6.5k points
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