Question

A credit card company charges a 4% balance transfer fee. If you want to transfer a balance of $2,100 to this credit card, what fee would you pay?

Answer 1

$84

Explanation:

= 4% × $2100

= 0.04 × $2100

= $84

Answer 2

$84

Explanation:

So since it charges 4%, this means you need to find 4% of what you're transferring. To find x% of a number, you need to convert the percentage to a decimal, and then multiply it by the number you're trying to find x% of. So in this case 4%/100 = 0.04. Now take this decimal and multiply it by 2100, and this will give you 84. So the fee would be $84