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ashneedhelp

You owe $1,240.24 on a credit card with a 13.75% APR. You decide to pay $250.00/month toward paying off the credit card. How much is the difference in the interest paid if you pay at the beginning of the month compared to paying at the end of the month?

  • 11 months ago
  • 11 months ago

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  1. ashneedhelp
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    @electrokid can u help me set it up so i can answere

    • 11 months ago
  2. electrokid
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    I am not quite sure on this one. I'd say it'd just be the interest accured per month principal = 1240.24 monthly interest rate = annual interest / 12 months = \(\Large{13.75\over12}=?\) Interest = principal * interest rate = \( 1240.24\times\Large{\ldots\over 100}=?\)

    • 11 months ago
  3. electrokid
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    is there a formula to calculate the interest?

    • 11 months ago
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