SOLUTION: plz solve this
Marliss made a $781.93 purchase on her Visa card. Including 48 days’ interest, the amount billed on her credit card was $799.96. What annual interest rate does h
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Question 1015329: plz solve this
Marliss made a $781.93 purchase on her Visa card. Including 48 days’ interest, the amount billed on her credit card was $799.96. What annual interest rate does her card charge? (Round your answer to 2 decimal places.)
Answer by FrankM(1040) (Show Source): You can put this solution on YOUR website!
799.96/781.93 = 1.02305833 (just over 2.3% for the 48 days)
2.305833*365/48= 17.53% per year based on 365 days.
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