asked 212k views
1 vote
The monthly finance charge on a charge account is 1.5% on the unpaid amount up to $500, and 1% on the unpaid amount over $500. What is the charge on an unpaid amount of $750?

1 Answer

3 votes
Break down $750. Where the first $500 is charged 1.5% and the remaining $250 is charged 1%

$500 * 1.5% = $7.50
$250 * 1.0% = $2.50

The total charge for the unpaid amount of $750 is $10.00
answered
User LeoGalante
by
8.6k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.