CITIC Credit Card repays 5,000 yuan in six installments with a monthly interest rate of 0.08%. How much is the handling fee?

The monthly interest rate should not be 0.08%. There is no such low rate, only 0.8%.

Fee for each installment = total installment amount * installment rate =5000*0.8%=40 yuan.

The principal payable in each installment =5000/6=833.33 yuan.

Repayment amount per installment = handling fee per installment+principal payable per installment =40+833.33=873.33 yuan.

Total handling fee = handling fee per installment * number of installments = total installment amount * rate per installment * number of installments =5000*0.8%*6=240 yuan.

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