Question

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?

a) $40
b) $45
c) $65
d) $85
Will fan and medal

Answer 1

what do you think it is?

Answer 2

B

Answer 3

Why B?
Have you formed an equation? Or gotten numbers of the percentages?

Answer 4

nvr mind C

Answer 5

\( 1~ of ~4500 = 0.01
\\ 0.01*4500 = 45\)

Add the 45 monthly with the late fee:

\( 45+40 = 85 \)

Your answer would be D. :)