2040 1832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her credit company charges 18% annual interest rate, which is billed at the rate of 1.5% per month. How much is she spending on credit card interest per year?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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How much is she spending on credit card Interest per year?
total annual cost for these items?
170021 1840
2040
4 832
2872
Sue maintains an average monthly balance on her credit card of about $1340. Her credit
company charges 18% annual interest rate, which is billed at the rate of 1.5% per month.
How much is she spending on credit card interest per year?
Billy's electric hill amount
$170
Transcribed Image Text:total annual cost for these items? 170021 1840 2040 4 832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her credit company charges 18% annual interest rate, which is billed at the rate of 1.5% per month. How much is she spending on credit card interest per year? Billy's electric hill amount $170
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