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Find how much is charged in interest the month

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Reference no: EM132729591

Problem 1: Faith opens a credit card with an APR of 16.50% compounded monthly. How much is charged in interest this month if her balance is $1,050?

A. $173.25

B. $87.50

C. $16.50

D. $14.44

Reference no: EM132729591

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