Question

lucinda thompson’s charge account statement shows unpaid balance of 222.08. The monthly finance charge is 1.5 percent of the unpaid balance. what is the finance charge

Answer 1

first you divide 1.2 by its self because you need to get 1 pound. 1.2 / 1.2 = 1

now that you have one pound, you divide 11.82 by 1.2 = 9.85

Answer 2

The finance charge is $ 3.3312 .

Explanation:

As given

lucinda thompson’s charge account statement shows unpaid balance of 222.08.

The monthly finance charge is 1.5 percent of the unpaid balance.

1.5% is written in the decimal form

`= (1.5)/(100)`

= 0.015

Thus

Finance charge = 0.015 × Unpaid balance amount .

Put all the values in the above

= 0.015 × 222.08

= $ 3.3312

Therefore the finance charge is $ 3.3312 .