Your card has a limit of $1,000. You plan to go on a honeymoon in one year and want to use the credit card as a backup. You plan to request your limit to be raised after three months of charging only the following: $150 in month 1; $200 in month 2; and $199 in month 3. Each month, you have paid the balance in full. What average percentage of your credit limit did you use each month? (Do not round intermediate calculations. Round your final answer to 1 decimal place.) Average usage % per month

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Your card has a limit of $1,000. You plan to go on a honeymoon in one year and want to use the credit card as a backup. You plan to
request your limit to be raised after three months of charging only the following: $150 in month 1; $200 in month 2; and $199 in month
3. Each month, you have paid the balance in full. What average percentage of your credit limit did you use each month? (Do not round
intermediate calculations. Round your final answer to 1 decimal place.)
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Transcribed Image Text:ences 2 Your card has a limit of $1,000. You plan to go on a honeymoon in one year and want to use the credit card as a backup. You plan to request your limit to be raised after three months of charging only the following: $150 in month 1; $200 in month 2; and $199 in month 3. Each month, you have paid the balance in full. What average percentage of your credit limit did you use each month? (Do not round intermediate calculations. Round your final answer to 1 decimal place.) Mc Graw Hill stly cloudy F1 Average usage 2 W S X E + D с % per month X $ R V F5 % 5 Q Search G F6 6 B Y H < Prev & 7 8 N F8 J 5 of 5 * 00 8 I F9 M DO NO 09 K Next F10 ( 9 V L ☀- ) L Alt P + F12 W PrtSc { [ Curi Insert ] Delete Backspace
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