Question: Check My Work eBook Chapter 6 C 3 Financial Planning Exercise 8 Calculating credit card interest Joseph Simpson, a student at State College, has an

Check My Work

eBook

Chapter

6

3

Financial Planning Exercise

8

Calculating credit card interest

Joseph Simpson, a student at State College, has an average balance of $

390

on his retail charge card; if the store levies a finance charge of

21

percent per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Round the answer to

2

decimal places.

Check My Work

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