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You have a balance of $4,500 on your credit card. The interest rate is 12% (1% per month). The late payment fee is $40. You miss a payment. What are your fees plus interest for …

You have a balance of $4,500 on your credit card. The interest rate is 12% (1% per month). The late payment fee is $40. You miss a payment. What are your fees plus interest for …
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3 votes
You have a balance of $4,500 on your credit card. The interest rate is 12% (1% per month). The late payment fee is $40. You miss a payment. What are your fees plus interest for the month?

asked
User Lasonya
by
8.2k points

2 Answers

3 votes

Answer:

d) $85

Explanation:

I got it right

answered
User Daentech
by
8.7k points
5 votes
tarted by figuring out how much interest you get in a month by multiplying 4500 by .01. This gave me $45 as in interest. Then I added the payment fee, $40. 40+45 is 85,
answered
User J F
by
8.6k points
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