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You pay for a $500 purchase using a credit card. The credit card company charges a 24% interest rate, compounded monthly ,on the unpaid balance. How much will you owe after 3 months? Assume you don't make
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You pay for a $500 purchase using a credit card. The credit card company charges a 24% interest rate, compounded monthly ,on the unpaid balance. How much will you owe after 3 months? Assume you don't make any payments during this time.

User DarkAtom
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Answer:

530.60 for interest on 3 months you don't make any payments

User BachT
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