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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

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  1. jim_thompson5910
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    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 = ???

    • one year ago
  2. kaylababyy94
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    I don't know. /: I suck at this and everything has to be turned in by the end of the night or I fail.

    • one year ago
  3. jim_thompson5910
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    do you have a calculator?

    • one year ago
  4. kaylababyy94
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    I don't have time. /: I either just guess or get somebody to help me. Can you?

    • one year ago
  5. jim_thompson5910
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    I can, but I'm taking that as a "no" that you don't have a calculator?

    • one year ago
  6. kaylababyy94
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    No, I actually don't.

    • one year ago
  7. jim_thompson5910
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    that's fine, there are plenty of calculators online

    • one year ago
  8. kaylababyy94
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    I have one on my phone. But not Scientific.

    • one year ago
  9. jim_thompson5910
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    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?

    • one year ago
  10. kaylababyy94
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    So the answer is 80.08?

    • one year ago
  11. jim_thompson5910
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    yep

    • one year ago
  12. jim_thompson5910
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    the result is 80.078125 that rounds to 80.08

    • one year ago
  13. kaylababyy94
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    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

    • one year ago
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