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ashneedhelp
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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?
 one year ago
 one year ago
ashneedhelp Group Title
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?
 one year ago
 one year ago

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ashneedhelp Group TitleBest ResponseYou've already chosen the best response.0
@electrokid can u help me set it up so i can answere
 one year ago

electrokid Group TitleBest ResponseYou've already chosen the best response.0
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 = \( 1240.24\times\Large{\ldots\over 100}=?\)
 one year ago

electrokid Group TitleBest ResponseYou've already chosen the best response.0
is there a formula to calculate the interest?
 one year ago
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