Interest Rate Finale

[corabrown00]

My credit card charges me 1.4% per month on the average balance. My billing cycle si 31 days, my starting balance for the month is 1235.15, I paid 545.00 on the 5th of the month, and they charged me 123.00 on the 21 st of the month.
What is the interest charged for the month.

 

[tkhunny]

My credit card charges me 1.4% per month on the average balance. My billing cycle si 31 days, my starting balance for the month is 1235.15, I paid 545.00 on the 5th of the month, and they charged me 123.00 on the 21 st of the month.
What is the interest charged for the month.

I'm not certain what this means, "they charged me 123.00"

You didn't say what your cycle date is.

Do you mean 5th of the month or 5th day of the cycle?

Assuming averthing matches up in some rational fashion, do this:

1235.15*(31-0) = _____
-545*(31-5) = _____
123*(31-21) = _____

Fill in those blanks. Add them up. Divide by 31. That is likely to be close to your average balance for the billing cycle.