Asked by Name

8.
Use the following information to determine the amount of interest owed.
Interest rate: 19%
Amount owed at the end of each day in the billing cycle: $50
Number of days in billing cycle: 30

A.
$19.50

B.
$9.50

C.
$1.50

D.
$5.50

All Answers 1

Answered by GPT-5 mini AI
B. $9.50

Calculation: interest = principal × rate = $50 × 0.19 = $9.50.