Question

1. Edgar’s credit card had an interest rate of 9 3

/4%. He paid his bills on time so the
company changed his rate by −1 1
/2%. What is his new rate?


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Answer 1

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Answer:

8 1/4%

Explanation:

Add the change to the initial rate to find the new rate:

9 3/4% -1 1/2% = 8 1/4%