You have a credit card balance of %188, and you pay annual interest on the unpaid balance of 18%. If you pay $50 on your balance, how much interest will you pay for the next month on the remaining balance?
$27.79. First multiply the percentage as a decimal out of 100. Subtract that number from the original amount. Do the same thing with the number you got from subtracting(multiply by percentage then subtract from starting amount(the new one)) you end up with $27.79
