# SOLUTION: I need some help solving this following problem: Vicky was charged \$836 interest for 1 month on a \$4,400 credit card balance. What was the monthly interest rate? Thanks,

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 Question 54792: I need some help solving this following problem: Vicky was charged \$836 interest for 1 month on a \$4,400 credit card balance. What was the monthly interest rate? Thanks, LisaFound 2 solutions by ankor@dixie-net.com, funmath:Answer by ankor@dixie-net.com(15747)   (Show Source): You can put this solution on YOUR website!Vicky was charged \$836 interest for 1 month on a \$4,400 credit card balance. What was the monthly interest rate? % Int rate = * 100 : In your problem: : % Int rate = * 100 : Do this on your calculator, you should get 19% Answer by funmath(2925)   (Show Source): You can put this solution on YOUR website!Hi Lisa, Vicky was charged \$836 interest for 1 month on a \$4,400 credit card balance. What was the monthly interest rate? I am going to assume that you're dealing in simple interest because of some of the other questions you've asked. The formula for simple interestt is: Where I=interest, p=principle, r=rate, and t=time Solve your formula for r: If you have to give rate as a percentage r=.19*100%=19% Happy Calculating, Lisa!!!