Math Class Bussiness and Apps

label Business & Finance
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schedule 1 Day
account_balance_wallet $5

Susan pays 11% annual interest on her Visa card. She has a balance of $2,200. What is the effective annual interest if no payment is made? Do not include fees and associated penalties

May 27th, 2015

interest is 11% 

balance is $2,200 which is after interest of 11% is deducted. 

therefor $2,200=89%

what is 100%

(2,200*100)/89

payment made is ~ $2471.91

May 27th, 2015

continuation of above

effective anual interest is payment made- balance

$2,471.91-2,200=$271.91



kindly best me

May 27th, 2015

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