SOLUTION: Elaine was charged $93 interest for 1 month on a $600 credit card balance. What was the monthly interest rate?

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Question 82165: Elaine was charged $93 interest for 1 month on a $600 credit card balance. What was the monthly interest rate?
Answer by checkley75(3666) About Me  (Show Source):
You can put this solution on YOUR website!
93/600=.155 or 15.5% interest rate per month.