Answered

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Marcus has credit card he owed $423 at benign of the 30 day month on day 16 he spend $316 using credit his apr 15%

Sagot :

Based on the APR given, the amount that he'll pay for the month will be $426.95.

How to calculate the monthly payment

Since the APR is given as 15%, the monthly interest rate will be:

= 15%/12 = 0.0125

The amount spent is $316, the amount each month will be:

= $316 × 0.0125

= $3.95

Since Marcus has credit card he owed $423 at the beginning, the amount he'll pay for the month will be:

= $423 + $3.95

= $426.95

Learn more about APR on:

https://brainly.com/question/24703884

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