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You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of your balance?
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You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of your balance?

User Dquimper
by
7.2k points

2 Answers

4 votes

Answer:

20%

Step-by-step explanation:

User Rtrader
by
7.1k points
4 votes
the answer is 20%, 40 is 1/5 of 200, therefore it is 20%
User Septih
by
6.6k points
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