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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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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