Joe was charged $150 interest for 1 month on a $1000 credit balance.?

2 ⤊

What was the monthly interest rate?

2007-10-09 16:11:40 · 3 answers · asked by wldanpcful 1 in Business & Finance ➔ Other - Business & Finance

15 or 180 per year

2007-10-09 16:17:12 · answer #1 · answered by shipwreck 7 · 0⤊ 2⤋

150 times 12 gets you how much per year............1800 or 180% per year.........divide by 12 for monthly 15% per month

2007-10-09 16:44:21 · answer #2 · answered by richard t 7 · 0⤊ 0⤋

15% or 180% per year.

2007-10-09 16:20:14 · answer #3 · answered by John 5 · 2⤊ 0⤋