Question
Anson has a balance of $242.68 on his department store charge account.
The finance charge is 1.6% on the unpaid balance per month. How much is
the monthly finance charge on his balance?
The finance charge is 1.6% on the unpaid balance per month. How much is
the monthly finance charge on his balance?
Answers
Answered by
GPT 3.5
To calculate the monthly finance charge on Anson's balance, we first need to determine 1.6% of $242.68:
$242.68 x 0.016 = $3.88
Therefore, the monthly finance charge on Anson's balance is $3.88.
$242.68 x 0.016 = $3.88
Therefore, the monthly finance charge on Anson's balance is $3.88.