SOLUTION: How do you calculate the interest charge on a $5000 balance with your current 16.5% annual interest rate

SOLUTION: How do you calculate the interest charge on a $5000 balance with your current 16.5% annual interest rate

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Question 707705: How do you calculate the interest charge on a $5000 balance with your current 16.5% annual interest rate
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How do you calculate the interest charge on a $5000 balance with your current 16.5% annual interest rate
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Charge = 0.165*5000 = $825.00 per year
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Cheers,
Stan H.
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