Determine the finance charge for a credit card that has the given average daily balance and interest rate. Average daily balance: $827.60; monthly interest rate: 2%. Round your answer to the nearest hundredth of a percent. 50.00% 3.00% 16.55% 33.10%
Determine the finance charge for a credit card that has the given average daily balance and interest rate. Average daily balance: $827.60; monthly interest rate: 2%. Round your answer to the nearest hundredth of a percent. 50.00% 3.00% 16.55% 33.10%
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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Question
Determine the finance charge for a credit card that has the given average daily balance and interest rate.
Average daily balance: $827.60; monthly interest rate: 2%. Round your answer to the nearest hundredth of a percent.
50.00% |
||
3.00% |
||
16.55% |
||
33.10% |
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