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24 April, 19:42

you maintain an average balance of $975 on your credit card which carries a 12% annual interest. what is the monthly interest payment?

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  1. 24 April, 20:04
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    Answer:$9.75

    Step-by-step explanation:

    1/12 of 12%

    1/12 * 12/100 = 1%

    1% of $975

    1/100 * $975

    = $975/100

    =$9.75
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