Larry's bank charges a variable finance rate of 1.5 percent on purchases up to $100, and one percent for purchases over $100. If his unpaid balance is $246.07 this month, what is his finance charge?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Jan 22, 2020 134k views

0 votes

Larry's bank charges a variable finance rate of 1.5 percent on purchases up to $100, and one percent for purchases over $100.

If his unpaid balance is $246.07 this month, what is his finance charge?

Mathematics
middle-school

Rlotun asked

by Rlotun

7.4k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

3 votes

Answer:

in this case $246,07 is over $100, It mean he will pay just 1%

246,07 x 0,01 = $2,46 is his finance charge

Explanation:

Mustafa Yousef answered Jan 29, 2020

by Mustafa Yousef

6.9k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.6m questions

11.2m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

0 Comments

Please log in or register to add a comment.

Other Questions