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    Nicholas Vitek's Avatar
    Nicholas Vitek Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 21, 2009, 09:15 PM
    Consumers, Savers, And Investors
    Suppose your average unpaid balance is 1,000 dollars a month and your credit card's interest rate is 18 percent. What would be your total interest expense for the year?
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #2

    Oct 24, 2009, 08:36 AM

    18% of $1000 ($180)

    Is that a trick question?
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