## kaylababyy94 Please Help.. /: Susan has a balance of \$5,125 on her credit card. If the card has an annual rate of 18.75%, how much is the finance charge for this month? (1 point) \$80.08 \$18.75 \$960.94 \$263.27 one year ago one year ago

1. jim_thompson5910

finance charge = interest charged Interest = Principal * Rate * Time I = Prt I = 5125*(0.1875)*(1/12) ... note: 1/12 means 1/12 years = 1 month I = ???

2. kaylababyy94

I don't know. /: I suck at this and everything has to be turned in by the end of the night or I fail.

3. jim_thompson5910

do you have a calculator?

4. kaylababyy94

I don't have time. /: I either just guess or get somebody to help me. Can you?

5. jim_thompson5910

I can, but I'm taking that as a "no" that you don't have a calculator?

6. kaylababyy94

No, I actually don't.

7. jim_thompson5910

that's fine, there are plenty of calculators online

8. kaylababyy94

I have one on my phone. But not Scientific.

9. jim_thompson5910

google is a simple calculator as well if you type "5125*(0.1875)*(1/12)" without quotes into google, then you will get this http://www.google.com/search?hl=&q=5125*%280.1875%29*%281%2F12%29&sourceid=navclient-ff&rlz=1B3GGLL_enUS420US420&ie=UTF-8 you should see the result on the calculator what is that result?

10. kaylababyy94

So the answer is 80.08?

11. jim_thompson5910

yep

12. jim_thompson5910

the result is 80.078125 that rounds to 80.08

13. kaylababyy94

2. Tamika opens a credit card in which the minimum monthly payment is 15%. Her current balance is \$2,450, not including the finance charge, and the APR is 20.5%. Assuming she makes a payment of \$400 this month, how much will the minimum monthly payment be for the next month? (1 point) \$367.50 \$502.25 \$313.78 \$426.53 3. Barbara opened a store credit card to purchase a game console for \$396. She put the entire purchase on the credit card. Her APR is 24.99% and the minimum payment is 5%. Assuming she makes only minimum payments, what is the remaining balance on her card after 3 months? (1 point) \$362.35 \$339.52 \$384.45 \$351.78 4. Sherri uses her credit card to pay for a new transmission that ended up totaling \$1,050.25. She can pay off up to \$400 a month. The card has an annual rate of 18.5%. How much will she pay in interest? (1 point) \$37.04 \$280.98 \$30.73 \$194.30 5. Mario opens a store credit card when he purchases new carpeting. The interest rate is 20.45%. He charges \$3,240 to the card, and can pay \$1,150 per month. What will the total cost of his purchase be? (1 point) \$3,240.00 \$3,349.36 \$3,902.58 \$4,289.36