monthly credit card interest is charged at a rate of 1.5%. after one month, total purchases plus interest equal $46.69. how much were the purchases?
x(1.015) = 46.69
Solve for x.
To find the amount of purchases, we can start by assuming the total purchases equals "x."
If the monthly interest rate is 1.5%, then after one month, the total amount owed, including the interest, would be the original amount plus 1.5% of the original amount. Mathematically, this can be represented as:
Total amount owed = x + (1.5% of x)
If we simplify the expression, we get:
Total amount owed = x + 0.015x
Since the problem states that the total amount owed after one month is $46.69, we can write the equation:
x + 0.015x = $46.69
To solve for x, we need to combine like terms:
1.015x = $46.69
Dividing both sides of the equation by 1.015:
x = $46.69 / 1.015
Evaluating the expression:
x ≈ $46.01
Therefore, the amount of the purchases was approximately $46.01.