+0  
 
0
49
1
avatar

Phillip charged $400 worth of goods on his credit card. On his first bill, he was not charged any interest, and he made a payment of $20. He then charged another $18 worth of goods. On his second bill a month later, he was charged 2% interest on his entire unpaid balance. How much interest was Phillip charged on his second bill ?

 Jan 14, 2020
 #1
avatar+21959 
+2

Original balance   400

  paid 20   

     new balance = 380     charged additional 18

         new balance 398        interest of 2% on this entire amount

             .o2 x 398 = $ 7.96 interest

 Jan 14, 2020

74 Online Users

avatar
avatar
avatar
avatar
avatar
avatar
avatar