To calculate the finance charge, you would multiply the outstanding balance by the interest rate:
Finance charge = $235.86 * 0.0175
Finance charge = $4.13
Therefore, the finance charge for the month would be $4.13.
Burt has an outstanding balance of $235.86 on his credit card
account. What is the finance charge for the month if it is
calculated at 1.75%
1 answer