For a year you owe 1600 on a credit card you pay 19% interest a year how much are you paying

Question

asked Mar 12, 2022 161k views

2 Answers

Namju · Answer 1 · 2022-03-16T05:48:33+0000

Explanation:

Simple interest = Principle * time * rate of interest

= 1600 * 1 * 19%

= 1600 * (19/100)

= 304

Total amount of debt

= 1600 + 304

= 1904