Asked by Tom Reed
Eleanor had an average daily balance of $250.82 in her charge
account. She paid 1.7% interest on that amount. Compute her finance
charge.
account. She paid 1.7% interest on that amount. Compute her finance
charge.
Answers
Answered by
MathMate
Finance charge = average daily balance*interest rate
Here
average daily balance = 250.82
interest rate = 1.7% = 0.017
Finance charge = 250.82*0.017 = ?
Here
average daily balance = 250.82
interest rate = 1.7% = 0.017
Finance charge = 250.82*0.017 = ?
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