Solution-Find the monthly interest payment

Find the monthly interest payment

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Reference no: EM131055317

Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1/12 of the annual interest rate. You maintain an average balance of $600 on your credit card, which carries a 15% annual interest rate.

The monthly interest payment is $___.

Reference no: EM131055317

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Find the monthly interest payment : Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1/12 of the annual interest rate. You maintain an average balance of $600 on your credit card, which carries a 15% annual interest rate.

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Find the monthly interest payment

Reference no: EM131055317

Reference no: EM131055317

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