SOLUTION: 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

SOLUTION: 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

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Question 232171: 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?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
(400-20+18)*.02=$796
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