2040 1832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her credit company charges 18% annual interest rate, which is billed at the rate of 1.5% per month. How much is she spending on credit card interest per year?

2040 1832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her credit company charges 18% annual interest rate, which is billed at the rate of 1.5% per month. How much is she spending on credit card interest per year?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...

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Question

100%

How much is she spending on credit card Interest per year?

total annual cost for these items?
170021 1840
2040
4 832
2872
Sue maintains an average monthly balance on her credit card of about $1340. Her credit
company charges 18% annual interest rate, which is billed at the rate of 1.5% per month.
How much is she spending on credit card interest per year?
Billy's electric hill amount
$170

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