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Kristin's credit rating was lowered, and the credit card company raised her apr from 14% to 15. 2%. If her average daily balance this month is x dollars, express algebraically the increase in this month's finance charge due to the higher apr.

Sagot :

The algebraic expression for the increase in this month's finance charge due to higher APR is  0.001x  .

In the question ,

it is given that ,

Kristin's credit rating was lowered ,

and the credit card company raised the APR from 14% to 15.2% ,

the average daily balance in this month is = $x .

the finance charge for 14% APR is = x*(14%/12)

= 0.01167x

the finance charge for 15.2% APR is = x*(15.2%/12)

= 0.01267x

So , the increase in finance charge is = 0.01267x - 0.01167x  

= 0.001x

Therefore , the algebraic expression is 0.001x  .

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