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Cerrena [4.2K]
3 years ago
11

You just obtained a credit card. You immediately purchase a digital camera for $160. Your credit limit is $4000. Let’s assume th

at you make no payments and purchase nothing more and there are no other fees. The monthly interest rate is 1.42%.
Mathematics
1 answer:
frutty [35]3 years ago
6 0
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions.
Below are the choices:

a.0.0142 
<span>b.1.0142 </span>
<span>c.14.2 </span>
<span>d.1.42
</span>
Every month your balance includes the original amount (100%) and the added the monthly interest (1.42%). So each month the balance will be 101.42% of the prior month's balance. Move the decimal point two places to the left to make that into a decimal. 

<span>Answer: </span>
<span>b. 1.0142</span>

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