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14-02-2020
Mathematics

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A credit card charges 15% annual interest. What is the interest charged for one month on a balance of $900?

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sportscoco151 sportscoco151

14-02-2020

Answer:

1.25% monthly interest

Step-by-step explanation:

15% yearly interest

1.25% monthly interest

(15/100)/12=0.0125=1.25%

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