Question

1. Most credit card incentive programs give----

a. cash
b. cash back
c. discounts
d. set dollar savings

2. To calculate a rewards program incentive, you---
a. use the simple interest formula
b. use the percentage of a number
c. multiply the whole numbers
d. divide by the percentage offered

3. A credit card gives 2% cash back on purchases. You purchase $1,685.90 in items with that card. What is your reward amount?
a. $33.72
b. $337.18
c. $280.98
d. $2.81

Answer 1

1. Most credit card incentive programs give
b. cashback
2. To calculate a rewards program incentive, you---
b. use the percentage number
3. For this we need to solve:
The cashback is 2% and the purchase amount is $1685.90. We just multiply the percentage to the purchase amount to know what is the 2% of 1685.90.

Solution:
*remember to change the percent to its decimal form by moving the percent two places to the left. 2%=.02

1685.90*.02=33.718 or 33.72

Answer: a