A businessperson is charged a $4.96 monthly finance charge on a bill of $283.15.
1 answer:
Answer:
1.75%
Step-by-step explanation:
The monthly interest rate is the interest amount divided by the base on which it is computed, expressed as a percentage.
$4.96/$283.15 × 100% ≈ 1.75172% ≈ 1.75%
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