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Dave had a balance of $236.17 on his department store charge account.

How much interest did he have to pay for the month if the rate was 1.7%
per month finance charge?

1 answer

To calculate the interest Dave had to pay for the month, we need to first multiply the balance by the monthly finance charge rate:

Interest = Balance * Monthly Finance Charge Rate
Interest = $236.17 * 0.017
Interest = $4.01

Therefore, Dave had to pay $4.01 in interest for the month.
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