A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest (compounded annually) would be charged on a balance of $ 485.00 that is 43 days overdue? *

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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A credit card has a compound interest rate of 22.5% per year on overdue
balances. How much interest (compounded annually) would be charged
on a balance of $ 485.00 that is 43 days overdue? *
Transcribed Image Text:A credit card has a compound interest rate of 22.5% per year on overdue balances. How much interest (compounded annually) would be charged on a balance of $ 485.00 that is 43 days overdue? *
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