Answer:
the interest generated over 30 days using banker's rule is $180.7
Step-by-step explanation:
balance = $7800
credit card charging interest rate per year = 27.8%
interest generated over a 30 day period =
= P × R ×T
= [tex]7800\times 0.278\times \dfrac{30}{360}[/tex]
= $180.7
hence, the interest generated over 30 days using banker's rule is $180.7
