The answe to this question is 0.133333333
To get a close estimate, we can round 49 up to 50 and 311 down to 300, obtaining an estimate of 50/300 = 1/6, or 0.1666... as a repeating decimal. That decimal approximation is a little less than one hundredth away from the actual decimal approximation of ≈ 0.1576
Answer:
correct option is d. $242.81
Step-by-step explanation:
given data
APR = 25.5% =
= 2.125
paid = $3,729
solution
we get here finance charge on the 1st month by multiplying 3,729 and now adding it to existing balance
so we get finance charge for the second and third months similarly as
APR ÷ 100 =
= 0.02125
so 1st
= $3,729 × 0.02125
= 79.25
and
$3,729 + $79.25 = $3808.24
so for next
= $3808.24 × 0.02125
= 80.93
and
$3808.24 + $80.93 = $3889.17
so for next
= $3889.17 × 0.02125
= 82.64
and
$3889.17 + $ 82.64 = $3971.81
so
finance
charge = 3971.81 - 3729
finance
charge = 242.81
so correct option is d. $242.81