Answer:
After the passage of one month, the finance charge that Edmund must pay will be $ 8.97.
Step-by-step explanation:
Given that Edmund has an unpaid balance of $ 598 on his credit card, and that said credit card has an annual interest of 18% on the unpaid balances, to determine how much he will have to pay after a month of expiration of his debt, it is necessary to perform the following calculation:
12 = 18
1 = X
18/12 = X
1.5 = X
(598 x 1.5 / 100) + 598 = X
8.97 + 598 = X
606.97 = X
Thus, after the passage of one month, the finance charge that Edmund must pay will be $ 8.97.
