Answered

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Peter has an average daily balance on his credit card of $127.50. His credit card charges 14.99% annual interest. What will his monthly finance charge be

Sagot :

Answer:

$1.59

Step-by-step explanation:

monthly finance charge = average daily balance x monthly interest

monthly interest = 14,99% / 12 = 1.249%

1.249% x $127.50 = $1.59

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