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MAXImum [283]
3 years ago
6

A credit card company charges a customer 1.1% per month on the unpaid balance of charges on a credit card. What is the finance c

harge in a month in which the customer has an unpaid balance of $845.12?
$92.96

$9.30

$6.31

$0.77
Mathematics
1 answer:
Mars2501 [29]3 years ago
4 0
1.1% converts to 0.011 after moving the decimal point 2 spots to the left

Multiply this with 845.12
845.12*0.011 = 9.29632

Round 9.29632 to the nearest penny to get 9.30

Answer: B) $9.30
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Step-by-step explanation:

The exact formula would be if I think this is right

PV = PMT(1-(1+r)^-n)/r with r & n adjusted for periodicity

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note:

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