IDNLearn.com offers a comprehensive solution for finding accurate answers quickly. Join our community to access reliable and comprehensive responses to your questions from experienced professionals.
Sagot :
Answer:The simplest way to calculate a finance charge is: balance X monthly rate
Step-by-step explanation:
i thinkk
500 X .015 = $7.50
The finance charge for a credit card that has an average daily balance of 5,600 and a monthly interest rate of 1.35 % is $75.6.
What is the finance charge?
The finance charge is the product of an average daily balance to the monthly interest rate.
finance charge = balance x monthly rate
The simplest way to calculate a finance charge = balance x monthly rate
= 5,600 x 0.0135
= $75.6
Thus, the finance charge for a credit card that has an average daily balance of 5,600 and a monthly interest rate of 1.35 % is $75.6.
Learn more about finance;
https://brainly.com/question/22786445
We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. Your questions deserve accurate answers. Thank you for visiting IDNLearn.com, and see you again for more solutions.
