Sharon has a balance of $3,825 on her credit card. If the card has an annual rate of 20.99% how much is the finance charge for this month?

Question

rockinhood · Answer

a. $802.87
b. $219.96
c. $66.91
d. $20.99

rockinhood · Answer

@sweetburger 
@zpupster  ?

anonymous · Answer

Okay. This is a pretty straight forward question. You simply have to know how to work with percentages. You can search up how to do percentages. But personally when calculating I would go with A as the answer: 802.8675.

anonymous · Answer

Hope this helped! Have a great day! 

@rockinhood

zpupster · Answer

$802.87 is the yearly or apr amount
divide this by 12 to get the monthly

rockinhood · Answer

Ok, thanks guys, didn't think it was 802.87 because that's way too much..

rockinhood · Answer

I got 66.90