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You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of…

You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of…
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You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of your balance?

asked
User Dquimper
by
8.1k points

2 Answers

4 votes

Answer:

20%

Step-by-step explanation:

answered
User Rtrader
by
8.0k points
4 votes
the answer is 20%, 40 is 1/5 of 200, therefore it is 20%
answered
User Septih
by
7.6k points
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