Question

A credit card company charges a 3.5% transfer fee to transfer a balance to a new account. What would the transfer fee be for a balance transfer of $7,500?

Answer 1

Answer:

$262.5

Step-by-step explanation:

We are told that:

A credit card company charges a 3.5% transfer fee to transfer a balance to a new account.

The transfer fee be for a balance transfer of $7,500 is calculated as:

3.5% × $7500

= 3.5/100 × $7500

= $262.5

The transfer fee for a balance transfer of $7500 is $262.5