Answer: To find the finance charge you multiply the balance times 0.23 / 12 .
To find the interest charge to an account, you have to multiply the balance by the percent rate (APR).
The problem in this case is that interest is charged monthly, but the rate is yearly.
To fix this problem, just divide the rate by 12.
0.23 / 12
The key with these problems is to find which function has the closest y-intercept to the graph, and then try to figure out which one best approximates the slope.
Here are our options:
<span>A. y = x + 4
B. y = 4x + 9
C. y = x + 18
D. y = 3x + 22
Which has the closest approximation of the y-intercept?
The y-intercept is not directly given, but we can assume it is less than 10.
That leaves us with A and B.
Which has the closest approximation of the slope?
The graph, on average, seems to move up about 60 and over about 15.
Slope = rise/run = 60/15 = 4. Although the slope isn't exactly 4, it's much closer to 4 than 1, which is slope for option A.
Therefore, the answer is
B) y= 4x + 9
</span>
