Posted by **MONICA** on Saturday, November 26, 2011 at 5:22pm.

Suppose you have a $1,000 charge on a credit card charging 1% monthly interest using the adjusted balance method. The minimum payment due in May is $50. How much will you save in interest charges in June by paying $100 instead?

Steps please.

- ALGEBRA -
**drwls**, Saturday, November 26, 2011 at 5:33pm
You would save the interest on the extra $50 you paid above the minimum. That is $5

You should pay off the entire balance, if you can, and pay no interest at all.

Please just don't dump your homework here en masse. Show your work.

- ALGEBRA -
**MONICA**, Saturday, November 26, 2011 at 6:03pm
Thanks for your help.You people need to learn how to talk to people.I was recently burned out of my house,and all of my books and everything was loss in the fire, so I do not have my book for a guide.If you feel like that do not respond to me,thats why I have asked for steps so I can figure this stuff out,but thanks again.

- ALGEBRA -
**Ulysses**, Friday, August 3, 2012 at 2:01pm
Drwls your such a knob knocker LOL

## Answer this Question

## Related Questions

- Algebra - Suppose you have a $1,000 charge on a credit card charging 1.5% ...
- ALGEBRA - Suppose you have a $1,000 charge on a credit card charging 1.5% ...
- ALGEBRA - Suppose you have a $1,000 charge on a credit card charging 1.5% ...
- ALGEBRA - Suppose you have a $1,000 charge on a credit card charging 1% monthly ...
- ALGEBRA - Suppose you have a $1,000 charge on a credit card charging 1% monthly ...
- ALGEBRA - Suppose you have a $1,000 charge on a credit card charging 1% monthly ...
- math - Suppose you have a $1,000 charge on a credit card charging 1% monthly ...
- math - Suppose you have a $1,000 charge on a credit card charging 1.5% monthly ...
- math - Suppose you have a $1,000 charge on a credit card charging 1% monthly ...
- Please Help - Suppose you have a $1,000 charge on a credit card charging 1.5% ...

More Related Questions