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Briley opens a credit card with an APR of 13.99%. How much is charged in interest this month if her balance is $2500?

$349.75

$13.99

$23.32

$29.15

Verified Answer :

MissPhiladelphia

To answer the question above, let us first analyze the problem.
If the APR is 13.99%,
then the monthly rate would be 1.1658333 % ( 13.99/12 ) 
A balance of $2500.00 would then costs: 
2500 * (1.1658333/100 ) = $ 29.1458 or $29.15 

You can also write this as: 
2500 * 0.01165833 = $29.15 
I hope my answer helped you

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