Sam has an account with a department store. His daily balance for the first 12 days of April was $125.47. His daily balance for the next 5 days was $151.25. For the last 13 days it was $177.63. What was his finance charge if the store used a rate of 2%?
I want to know how to answer this problem.
I want to know how to answer this problem.
-
financial Charge after 30 days
= [$125.47 + $151.25 + $171.63] + [$125.47*12 + $151.25*5 + $177.63*13]*(2/30)%
= $454.35 + [$1505.64 + $756.25 + $2309.19]*(1/15)%
= $454.35 + $3.05
= $457.40
= [$125.47 + $151.25 + $171.63] + [$125.47*12 + $151.25*5 + $177.63*13]*(2/30)%
= $454.35 + [$1505.64 + $756.25 + $2309.19]*(1/15)%
= $454.35 + $3.05
= $457.40