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A consumer charges a $46. 92 purchase on a credit card. The card has a daily interest rate of 0. 39%. If the consumer pays off the balance at the end of 30 days, how much in interest will be paid for the purchase? a. $0. 06 b. $0. 18 c. $0. 55 d. $5. 49 Please select the best answer from the choices provided. A B C D.

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shubhamchouhanvrVT

The interest paid for the credit card purchase will be equal to $5.49

What will be the interest on the credit card purchase?

It is given that

Credit card purchase cost = $46. 92

Daily interest = 0.39%

Total interest for 30 days = [tex]0.39\times30=11.7[/tex]%

So the total interest paid will be given by

[tex]=\dfrac{11.7\times46.92}{100}=5.489[/tex]

Thus the interest paid for the credit card purchase will be equal to $5.49

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