SOLUTION: A credit card balance is $3500. The interest rate is 18%. The balance is paid off, saving an amount of interest over the following year. Determine interest saved.
Not sure ho
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Question 1207472: A credit card balance is $3500. The interest rate is 18%. The balance is paid off, saving an amount of interest over the following year. Determine interest saved.
Not sure how to solve.
Answer by greenestamps(13203) (Show Source): You can put this solution on YOUR website!
How much is 18% interest on a balance of $3500?
That balance was paid off, making it unnecessary to pay that interest; that interest is what is saved.
ANSWER: 18% of $3500
(You can do the calculation)
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