Calculating credit card interest

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Reference no: EM131820537

Ryan Gray, a student at State College, has a balance of $380 on his retail charge card; if the store levies a finance charge of 20 percent per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Round the answer to 2 decimal places.

Reference no: EM131820537

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Calculating credit card interest : Ryan Gray, a student at State College, has a balance of $380 on his retail charge card; Assume that balance is computed by the average daily balance method.

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