G Gal1 Registered User Messages 18 21 Nov 2006 #1 Hi, I have a question re: Credit Card How would you calculate 250.00 over two months interest on a credit card at 17%. Thanks a mil, Gal1
Hi, I have a question re: Credit Card How would you calculate 250.00 over two months interest on a credit card at 17%. Thanks a mil, Gal1
C CCOVICH Registered User Messages 8,826 21 Nov 2006 #2 The 17% is an annual rate. Interest (approx) for one month would be €250*17%/12=€3.54 But interest accrues from the date of each transaction AFAIK, so it may not be as straightforward as that.
The 17% is an annual rate. Interest (approx) for one month would be €250*17%/12=€3.54 But interest accrues from the date of each transaction AFAIK, so it may not be as straightforward as that.