Calculate the interest due on the following credit card balances:

Question

A) An unpaid balance of $1629.53 at a rate of 19.50% for 21 days
B) An unpaid balance of $2639.99 at a rate of 22.95% for 30 days.

Answer 1

A. I = Po^r*t = 1629.53*(0.1950/365)*21 = $18.28

B. Same procedure as A.