Solved: Find the monthly interest payment in the situation, Mathematics

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Find the monthly interest payment in the situation

Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1/12 of the annual interest rate. You maintain an average balance of $600 on your credit card, which carries a 15% annual interest rate.

The monthly interest payment is $___.

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Mathematics: Find the monthly interest payment in the situation

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