If a musician uses his credit card to pay for a new violin that costs 2,900 and does not pay on it until the second month what will the 3.35% monthly interest charge be at the end of the first month

$97.15.

Step-by-step explanation:

We have been given that a  musician uses his credit card to pay for a new violin that costs 2,900 and does not pay on it until the second month. The credit card charges 3.35% monthly interest.

, where,

,

,

,

Let us convert our given rate in decimal form.

Upon substituting our given values in interest formula we will get,

Therefore, the monthly interest charge at the end of the 1st month will be $97.15.