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18 September, 23:24

Tammy got a new credit card with an APR of 21% a month ago, and she just got her first credit card statement. She charged a bracelet for $17, a purse for $36, and some sunglasses for $11. If her credit card charges interest on the previous monthly balance, how much should Tammy pay now so that she doesn't have any interest charged to her on next month's statement

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  1. 18 September, 23:26
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    Due to the fact she does not have to pay any interest, add the three charges up.

    11+17+36=$64.

    This would mean she has to pay only $64.

    Have a wonderful rest of your day
  2. 18 September, 23:38
    0
    Tammy has charged $17 + $36 + $11 = $64 in total.

    So Tammy has to pay $64 before she have interest charged to her.

    If the APR is 21% then monthly interest is 21% / 12 = 1.75%

    So if she don't pay those $64 by the end of month, she will have to pay $64 + $64 * 0.0175 = $64 + $1.12 = $65.12.
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Home » Mathematics » Tammy got a new credit card with an APR of 21% a month ago, and she just got her first credit card statement. She charged a bracelet for $17, a purse for $36, and some sunglasses for $11.
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