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for questions that relate to interest. Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets.

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How to use credit card with balance on it?

I know that once you are past grace period, interest is charged right away. How does it work though. Let's assume it's a 12% yearly credit card(I know, wonderland, but for sake of simplicity). … Or would i be charged for month worth of interest upfront? …