To calculate the finance charge for the month, we first need to find 1.8% of the outstanding balance of $185.68.
Finance charge = Outstanding balance * Monthly interest rate
Finance charge = $185.68 * 0.018
Finance charge = $3.34
Therefore, the finance charge for the month is $3.34.
Brad has an outstanding balance of $185.68 on his credit card
account. What is the finance charge for the month if it is
calculated at 1.8%
per month.
1 answer
1 answer