BrookLPrescott9249 BrookLPrescott9249

19-04-2019
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Lenny has a remaining balance on his credit card of $3,000. his credit card has an apr of 20 percent. how much will he pay in interest in one month?

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yinazhou008 yinazhou008

19-04-2019

i believe that the answer is 50 dollars in one month

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Littlebunnyfufu1234 Littlebunnyfufu1234

19-05-2019

Answer:

A=p(1+i/m)^mn

P=3000

i=0.20

M=12

n=1/12

A=3,000×(1+0.20÷12)^(12*1/12)

=3,050

Interest earned=3050-3000=50

Explanation:

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