some help in consumer math please and thanks alot

Question

you owe 2875.59 on a credit card at a 13.7 apr if you pay 400.00 month what is the difference in the amount of interest accrued by the end of the month if you pay at the beginning of the month versus the end of the month?

Answer 1

Since you pay interest on the unpaid balance the difference would be 2875.59*.137/12=32.83 so it a little over $1 per day.

 

Jim