Answered

Connect with a global community of knowledgeable individuals on IDNLearn.com. Discover trustworthy solutions to your questions quickly and accurately with help from our dedicated community of experts.

A businessperson is charged a $4.96 monthly finance charge on a bill of $283.15.
What is the monthly interest rate on the account? Round to the nearest hundredth
of a percent.

Sagot :

Sqdancefanidn

Answer:

  1.75%

Step-by-step explanation:

The monthly interest rate is the interest amount divided by the base on which it is computed, expressed as a percentage.

  $4.96/$283.15 × 100% ≈ 1.75172% ≈ 1.75%

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Thanks for visiting IDNLearn.com. We’re dedicated to providing clear answers, so visit us again for more helpful information.