Question

QUESTION 1

Teresa's credit card company calculates a finance charge based upon a periodic rate of 4.1% on all unpaid balances. If Teresa has an unpaid balance of $146.00, determine the finance charge that she will be assessed.
Round your answer to two decimal places.



a $2.04

b $5.82

c $5.99

d $6.72


Rex's credit card company calculates a finance charge based upon a periodic rate of 1.5% on all unpaid balances. If Rex has an unpaid balance of $200.00, determine the finance charge that he will be assessed.

a $201.50

b $198.50

c $3.00

d $30.00

Elizabeth's credit card company calculates a finance charge based upon a periodic rate of 3.2% on all unpaid balances. If Elizabeth has an unpaid balance of $541.00, determine the finance charge that she will be assessed.
Round your answer to two decimal places.



a $10.37

b $12.44

c $14.43

d $17.31


Jerry's credit card company calculates a finance charge based upon a periodic rate of 2.3% on all unpaid balances. If Jerry has an unpaid balance of $250.00, determine the finance charge that he will be assessed.

a $4.60

b $5.00

c $5.75

d $6.25


John's credit card company calculates a finance charge based upon a periodic rate of 1.35% on all unpaid balances. If John has an unpaid balance of $347.65, determine the finance charge that he will be assessed.
Round your answer to two decimal places.



a $3.49

b $4.69

c $346.30

d $469.33

Answer 1

The answers are C,C,D,C,B all you have to do is change each percent into a decimal and multiply by the amount they give you so if it says 2.3% on $250 you do .023 (bc you move the decimal to the left 2 places every time) and multiply it by 250 which gives you $5.76