1. Limited time only! Sign up for a free 30min personal tutor trial with Chegg Tutors
    Dismiss Notice
Dismiss Notice
Join Physics Forums Today!
The friendliest, high quality science and math community on the planet! Everyone who loves science is here!

Homework Help: Homework Need Help

  1. Feb 4, 2006 #1
    Carmel owes $2902.40 on her bankcard.

    (a) If the interest rate is 15.5%, how much interest will she pay per year?
    (b) Interest is calculated dail at 0.04246% and charged monthly. How much will Carmel pay for a 30day month?
    (c)If she pays $500 off her bankcard bill on 15th July, how much interest will she pay for this month?

    I've figured out a, b.
     
  2. jcsd
  3. Feb 5, 2006 #2

    HallsofIvy

    User Avatar
    Science Advisor

    She owes 0.04246% on the entire $2902.40 for 15 days. How much interest is that for each day (0.00044246*2902.4). How much is that for 15 days?

    She owes 0.04246% on the remaining $2902.40- 500= $2402.40 for the remaining 16 days.

    I'm moving this to the "homework help" thread.
     
    Last edited by a moderator: Feb 5, 2006
Share this great discussion with others via Reddit, Google+, Twitter, or Facebook




Loading...
Similar Threads for Homework Need Help Date
Need some help with two Dimensional velocity Vectors Feb 26, 2016
Precal homework I need help Oct 30, 2011
Need help with trigonometry homework May 11, 2011
Need Help with My Limit Homework Sep 22, 2009
I need help with homework Sep 17, 2009