# Calculating interest rates

**Question description**

Would you able to help me with my quiz, I will pay you $1.00 per question and $5.00 bonus if I get a good score, here an example of what am working with.

Suppose that on January 1st you have a balance of $3100 on a credit card whose APR is 12%, which you want to pay off in 3 years. Assume that you make no additional charges to the card till after January 1st:

Calculate your monthly payments.

When the card is paid off, how much will you have paid since January 1st?

The monthly payment?

(Round to the nearest cent as needed)

The total paid since January 1st?

(Use answer from above for this answer, nearest cent)

The percentage of the total paid is interest is?

(Use the answer from above to find this answer, round to one decimal place as needed.)

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors