Register
Suppose you have a credit card debt of $4000. Last month the bank charged you $40 interest on the debt. The solution to the equation 40 \ = (4000)/(12) r represents the annual interest rale, r, on the
208k views
1 vote
Suppose you have a credit card debt of $4000. Last month the bank charged you $40 interest on the debt. The solution to the equation


40 \ = (4000)/(12)
r represents the annual interest rale, r, on the credit card. Find the annual interest rate on the credit card.​

User Ponting
by
6.8k points

1 Answer

3 votes

Answer:

1% per month

Explanation:

1% of 4000 is 40

User Vintnes
by
7.1k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.6m questions

11.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!