What is 17.99% interest on this? You have a credit card with a be a foil for

You have a credit card with a be a foil for of $340.41. Your interest rate is 17.99% and you pay it off after 8 days.

How much interest would you be paying?

If you pay the balance surrounded by full within the monthly bill you pay no interest.

$340.41 x 17.99 / 100 = $61.23
So $61.23+$340.41 = $401.64

If you pay the full $340.41 in the past the due date then you pay no interest at adjectives.

Well, you reward $61 in interest a year on a $340 credit card balance. Do the math.

that would come out to $401.65...

Answer:
Actually, you would settle up .1799*340.41 = $61.23 for a whole year of interest. Credit cards charge you based on day by day balances usually. So 8 days of interest would be (61.23/365)*8 = $1.34 for the 8 day loan at that interest rate.

If your card have a grace period and you charged the 340.41 as purchases this month, you wont pay any interest at adjectives as long as you pay off your bill every month. If you fetch a balance by making minimum payment or any transfer of funds less than the full balance on your statement, you will be charged on a daily basis interest as illustrated above.

340.41*17.99%*8/360=1,36088353...

Ethan is incorrect-- he give you the whole year's worth of interest. You'd need to divide the $60.00 by 365 to grasp your daily interest, and then times that by 8 days.

However its not going ot be perfect-- it would depend upon if your interest be compounded daily, once monthly, etc.