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Zack has an outstanding balance of $237.84 on his bank credit card

Find the finance charge for the month if it is calculated at 1.4%.

1 answer

To find the finance charge, we need to multiply the outstanding balance by the finance rate.

Finance charge = outstanding balance x finance rate

Finance charge = $237.84 x 0.014

Finance charge = $3.33

Therefore, the finance charge for the month is $3.33.
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