Fredericka Smith's account statement. Unpaid balance of $75.06. Periodic rate of 2 percent. What is the finance charge? New purchases of $432.11. What is the new balance?

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Jnorris · Answer 1 · 2024-09-30T05:01:59+0000

Answer:

Explanation:

$75.06×2%=$75.06×0.02=$1.50

The finance charge is the product of the unpaid balance and the periodic rate.