# Calculate the finance charge on a credit card balance of \$3,299.19 at a monthly rate of 1.2%.

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A charge card is a type of calculate the finance charge on a credit card balance of \$3,299.19 at a monthly rate of 1.2%. that charges no interest but requires that you pay the statement balance in full, usually monthly. They have an uncapped spending limit with generous reward benefits for the cardholder, but typically charge a high annual fee.

## Finance Charge Calculator

https://www.thecalculator.co/finance/Finance-Charge-Calculator-572.html

For instance in case of a credit of \$1,000 with an APR of 19% the monthly rate is 19/12 = 1.5833%. The rule says that you first need to calculate the periodic rate by dividing the nominal rate by the number of billing cycles in the year. Then the balance gets multiplied by the period rate in order to have the corresponding amount of the finance …

## Finance Charge Calculator – Online Financial Calculator

https://online-calculator.org/finance-charge-calculator.aspx

Finance Charge Calculator to calculate finance charge for credit card, mortgage, auto loan or personal loans. The Finance charge formula below shows how to calculate finance charge for a loan. Simply enter the current balance, APR, and the billing cycle length, and the finance charge along with your new loan balance will be calculated. Online Finance Charge Calculator: …

## Calculate the finance charge on a credit card balance of 3299 … – …

03/04/2011  · Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent? Wiki User. ∙ 2011-04-04 14:31:57. Study now. See answer (1) Best Answer. Copy. \$39.59. Wiki User. ∙ 2011-04-04 14:31:57. This answer is: Helpful Not Helpful. . 0. . 0. . 0. Add a Comment. Study guides. Credit and Debit Cards. 20 cards. The law is derived from …

## Calculate the finance charge on a credit card balance of \$3,299.19 …

15/07/2019  · Answers: 1. Get. Answers. The correct answer was given: Lamr. Given that the monthly charges for a credit card is 1.2% and the credit card balance is \$3,299.19. Therefore the amount charged per month will be: [rate]/100* [credit card balance] =1.2/100*3,299.19\$. =39.59.

## Calculate the finance charge on a credit card balance of \$3,299.19 …

21/06/2019  · Calculate the finance charge on a credit card balance of \$3,299.19 at a monthly rate of 1.2%. Answers: 1 Show answers Another question on Business. Business, 22.06.2019 11:20. Mae jong corp. issues \$1,000,000 of 10% bonds payable which may be converted into 10,000 shares of \$2 par value ordinary shares. the market rate of interest on similar bonds is …

## FAQ calculate the finance charge on a credit card balance of \$3,299.19 at a monthly rate of 1.2%.

### How to calculate finance charges in credit cards?

The rule says that you first need to calculate the periodic rate by dividing the nominal rate by the number of billing cycles in the year. Then the balance gets multiplied by the period rate in order to have the corresponding amount of the finance charge. Finance charge calculation methods in credit cards.

### How do you calculate the monthly interest rate on a credit?

You can figure it out by applying the formula given above that states you should multiply your balance with the periodic rate. For instance in case of a credit of \$1,000 with an APR of 19% the monthly rate is 19/12 = 1.5833%.

### How to calculate period rate and finance charge?

Calculate period rate: 0.18 * 25 / 365 = 0.0123 3. Calculate finance charge: 1000 * 0.0123 = 12.33 * billing cycle is 365 in a year since we are calculating by "days".

### How to calculate the periodic rate of a credit card?

For instance in case of a credit of \$1,000 with an APR of 19% the monthly rate is 19/12 = 1.5833%. The rule says that you first need to calculate the periodic rate by dividing the nominal rate by the number of billing cycles in the year.