Suppose you have a $1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is $30.00 How much will you save in interest charges in June by paying $60 instead?
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Preview: ... this, The May ending balance would be $940 The interest wo ...
The full tutorial is about 54 words long .
Preview: ... a $30 payment, the interest would be (949.40)(.01) = $9.49 ...
The full tutorial is about 49 words long .