Many credit card companies charge simple interest on the unpaid balance of the account for...
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Accounting
Many credit card companies charge simple interest on the unpaid balance of the account for the number of days since your last payment. Suppose that your credit card company charges 9.9% simple interest and you made your last payment 32 days ago at which time the balance was $3000. How much interest is owed after 32 days? 12:04 AM
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