Posted by Judy on Saturday, January 15, 2011 at 10:16pm.
Nick has a revolving department store credit card account with an annual percentage rate of 15%.Last month's balance on the account was 423.78.During the current month,he made purchases totaling 123.42 and made a payment of 100.00.The store uses the unpaid balance method.According to this information,what must be the amount of the finance charge.Round to nearest cent.
A.5.30
b.5.59
c.6.36
d.6.71

math  Ms. Sue, Saturday, January 15, 2011 at 10:27pm
423.78 + 23.42 = 447.20
447.20 * 0.15 = 67.08
67.08 / 12 = ?

math  Judy, Sunday, January 16, 2011 at 10:43am
Ms. Sue,
Thank you very much,I cannot believe I was leaving off dividing by 12.
According to the information above would Nicks current account balance be 380.12.
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