After making a payment, a person is left with a credit card balance of $315. How much interest will be charged after 18 months i
f the interest rate is 1.5% per year? Round to the nearest cent. Please explain how you answer step by step!!
1 answer:
Answer:
A = P (1 + i)^n A is the final amount
P is the initial amount
i = interest / period
n = number of periods
A = 315 * (1 + .015)^1.5 = 322.11
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