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Can Someone Work This Out For Me Please
mercedes125
Posts: 402 Forumite
in Credit cards
If i transfered a balance of £8.500 to another credit card and the interest rate is 5.9% a month for the life of the balance what interest a month would i be paying.
Thankyou
Thankyou
0
Comments
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5.9% a month would be 70% per annum, which I doubt.
For 5.9% per annum monthly interest would be
5.9/(12*100)*8500=£41.80Happy chappy0 -
Do you not mean 5.9% per year? per month is astronomical.
John0 -
Hi thanks for your replys, yes it is for the year sorry.0
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phew, i almost pooed my pants.0
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GaryTravers wrote:phew, i almost pooed my pants.
i was just taking a drink when i read that....now my monitor is very wet
0 -
my apologies to your monitor, and to my almost soiled pants.0
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