Q: Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent?

Write your answer...

Submit

Still have questions?

Continue Learning about Math & Arithmetic

14.4%

Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.

1.5 or 1.50

12 percent, compounded monthly is the equivalent of an annual rate of approx 390%. At that rate, 1290 would be worth 5025.81 (approx).

34.50

Related questions

1.3 percent of 740.77 is 9.63

39.59

18.19

79.80

change the percent to a decimal

change the percent to a decimal

change the percent to a decimal

2400

14.4%

Three to five percent of the statement balance.

Assuming 6.5% refers to the annual interest rate, the monthly interest is 111.04 approx.

Credit card companies use several methods to calculate interest. There can be one or two billing cycles per month. Interest can be charged on the daily balance, new purchases, etc. You should refer to the "How finance charges are calculated" section of you billing statement.