My credit card has a monthly interest rate of 1.83% and an effective annual interest rate of 24.4%. How do I calculate the costs for a period of approximately 30 days if I borrow, say, €1,000 using the credit card? Thanks in advance for your answers.
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1000 x 0.0183 -> How much interest you have to pay
1000 x 1.0183 -> How much you have to repay after a month.
by the way, these are very high interest rates, consider whether you want to pay with it.