Asked by kim
Becky has a balance of $2,000 on her credit card. Her minimum payment is $40 on a card with an APR of 17 percent. How much of that payment will go toward paying the interest?
Answers
Answered by
Steve
17% is 17/12 = 1.417% per month
.01417 * 2000 = $28.33
.01417 * 2000 = $28.33
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