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15 February, 16:15

Sarah has a credit card balance of $2000. the credit card company charges 11 % per annum simple interest. what is the interest charge on sarah 's credit card after 1 month?

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  1. 15 February, 17:46
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    The interest charge would be $18.33.

    11% of $2000 Is $220. $220 Is your total value of interest each year. Divide this by 12 (months per calender year) to get your interest charge for 1 month.
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