Question

Arturo Alvarez's charge account shows an unpaid balance of $6,255. The monthly finance charge is 1.5 percent of unpaid balance. What is the total finance charge?

Answer 1

$93.825

Step-by-step explanation:

The computation of the total finance charge is shown below:

= Unpaid balance of the charge account × monthly finance charge percentage

= $6,255 × 1.5%

= $93.825

By multiplying the unpaid balance with the monthly finance charge percentage we can get the total finance charge and the same is shown above i.e on the calculation part