Question

Kristin's credit rating was lowered, and the credit card company raised her APR from 14% to 15.2%. If her average daily balance this month is x dollars, express algebraically the increase in this month's finance charge due to the higher APR. Fill in the blank 1

Answer 1

0.001x

Explanation:

Answer 2

0.0022x

Explanation:

Given that,

The credit card company raised her APR from 14% to 15.2%.

Her average daily balance this month is x dollars.

We need to find the algebraically the increase in this month's finance charge due to the higher APR. It can be calculated as follows :

`y=x* (12\%)/(14)-x* (15.2\%)/(14)\\\\=x* (12)/(1400)-x* (15.2)/(1400)\\\\=-0.0022x`

So, the required increase in the month's finance is 0.0022x.