Asked by ar
Scott charged a $568 purchase on his credit card. The first month he
paid $200. The second month's statement included a 1.75% monthly finance
charge, computed on the unpaid balance method. What was the total amount
due on the second statement?
paid $200. The second month's statement included a 1.75% monthly finance
charge, computed on the unpaid balance method. What was the total amount
due on the second statement?
Answers
Answered by
drwls
After the first month's payment was made, Scott still owed $368. On his next payment, he would have had a balance due of $368 PLUS 1.75% of $368.
You do the numbers.
You do the numbers.
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