# SOLUTION: kim was charged 560.00 interest for 1 year on a 10,000.00 credit card balance what was her monthly interest rate please show work

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 Algebra: Percentage and Pie Charts Solvers Lessons Answers archive Quiz In Depth

 Question 364305: kim was charged 560.00 interest for 1 year on a 10,000.00 credit card balance what was her monthly interest rate please show workAnswer by mananth(12270)   (Show Source): You can put this solution on YOUR website!interest = 560 credit card balance = 10000 ... I=p*r*t 560=10000*r*1 560/10000= r r=0.56 0.56*100 = 5.6% for 1 year. monthly rate was 5.6 /12 =0.46 % per month ... m.ananth@hotmail.ca