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25 January, 11:45

A credit card company charges 24.99% annually for its interest rate. There is a a 2450 balance. how much interest would be charged in dollars?

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  1. 25 January, 12:00
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    A credit card company charges 24.99% annually for its interest rate

    Total balance = 2450

    we have to find the interest which would be charged in dollars

    So to find the interest which would be charged in dollars we have to multiply total balance by the interest rate which is 24.99 and then divide it by hundred

    so our interest comes = 2450*24.99/100 which comes out to be 612.255
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