Question

The fee for a balance transfer is 2% of the amount of the transfer. If b represents the amount of the balance transfer and ƒ represents the amount of the fee, which of the following equations represents the relationship between b and ƒ?

b = 0.2ƒ
ƒ = 0.02b
b = 0.2 + ƒ
ƒ = b + 2

Answer 1

f=0.02b

Explanation:

So we want to figure out the fee (f) therefore our answer will be in terms of f=(something). Now since the fee is 2% and 2% is decimals is 2÷100=0.02 then:

f=0.02b

Meaning that the fee is 2% of the balance (b).