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1 vote
3. Francis has an unpaid balance of $480 on his credit card.

The annual percentage rate is 12%. What is the finance
charge on his next monthly statement?

User Paul Bruno
by
7.9k points

1 Answer

5 votes

Answer:

4 dollars 80 cents

Explanation:

if annual is 12%, find monthly, 12/12=1

monthly rate is 1%

convert to decimal

0.01

480*0.01

4.8

User Kyesha
by
8.3k points
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