Question

Larry's bank charges a variable finance rate of 1.5 percent on purchases up to $100, and one percent for purchases over $100.

If his unpaid balance is $246.07 this month, what is his finance charge?

Answer 1

in this case $246,07 is over $100, It mean he will pay just 1%

246,07 x 0,01 = $2,46 is his finance charge

Explanation: