The monthly finance charge on a charge account is 1.5% on the unpaid amount up to $500, and 1% on the unpaid amount over $500. What is the charge on an unpaid amount of $750?

Question

Jay Dickson

Mathematics

23 September, 13:49

The monthly finance charge on a charge account is 1.5% on the unpaid amount up to $500, and 1% on the unpaid amount over $500. What is the charge on an unpaid amount of $750?

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Answers (1)

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Deangelo Lamb · Answer 1

Break down $750. Where the first $500 is charged 1.5% and the remaining $250 is charged 1%

$500 * 1.5% = $7.50

$250 * 1.0% = $2.50

The total charge for the unpaid amount of $750 is $10.00