Mo has a credit card that gives a 3% discount on every purchase. The annual percentage rate on the card is 12%. He is purchasing an electronic reader for $140. Check all that apply.

1. If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $140.

2. If Mo pays cash, the cost of the purchase will be $140.

3. If Mo uses the credit card and pays off the balance at $30 a month for 7 months with no late fees, the cost of the purchase will be $143.34.

4. If Mo pays cash, the cost of the purchase will be $135.80.

5. If Mo uses the credit card and pays off the balance at $20 a month for 7 months with no late fees, the cost of the purchase will be $139.89.

6. If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $135.88.

Question

Omar Ellison

History

12 March, 20:12

Mo has a credit card that gives a 3% discount on every purchase. The annual percentage rate on the card is 12%. He is purchasing an electronic reader for $140. Check all that apply.

1. If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $140.

2. If Mo pays cash, the cost of the purchase will be $140.

3. If Mo uses the credit card and pays off the balance at $30 a month for 7 months with no late fees, the cost of the purchase will be $143.34.

4. If Mo pays cash, the cost of the purchase will be $135.80.

5. If Mo uses the credit card and pays off the balance at $20 a month for 7 months with no late fees, the cost of the purchase will be $139.89.

6. If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $135.88.

+1

Answers (1)

Know the Answer?

Leandro Kaiser · Answer 1

(√) 2. If Mo pays cash, the cost of the purchase will be $140.

(√) 5. If Mo uses the credit card and pays off the balance at $20 a month for 7 months with no late fees, the cost of the purchase will be $139.89.

(√) 6. If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $135.88.