Answer:
The answer is that she would pay $65.56 in finance charges at the end of the month.
Step-by-step explanation:
Given: APR = 19.99%
Carry Over Balance: $398.97
The APR or Annual Percentage Rate, is calculated daily. You will need to get the daily periodic rate, or DPR, so divide the APR by 365:
19.99% = .1999
.1999 / 365 = .005477 (This is the Approximate DPR, rounded up to .005477)
To get the finance charge, multiply the average daily balance by the DPR and then by 30 days:
398.97 * .005477 * 30 = $65.56 finance charge for this carry over balance, at the end of the month. This assumes that the balance is the average daily balance.
Hope this helps!! Have a great day!
4m = 12x + 40
8x + 8x + 12x + 40 + 4m = 360
28x + 40 + 12x + 40 = 360
x = 7
m = 12(7) + 40 = 124
11 x 3 3/4 = 41 1/4 (41.25)
10 1/2 x 0.55 = 5.775
41.25 + 5.775 = 47.025
100 - 47.025 = $52.975 her change
Hope it helps!
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1/2 chance of getting an even number and 1/2 chance of getting an odd one.
