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?

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asked Jan 22, 2020 134k views

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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

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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

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