1) Pong paid $20.40 in interest on her credit card last month. The monthly interest rate for her credit card is 1.7% of the balance she owes. What was Pong's balance last month? 3 marks

Question

Hazel Benjamin

Mathematics

12 August, 03:35

1) Pong paid $20.40 in interest on her credit card last month. The monthly interest rate for her credit card is 1.7% of the balance she owes. What was Pong's balance last month? 3 marks

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Answers (1)

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Erik Lucas · Answer 1

We name her balance B so we have

B x1.7%=20.40

B x 1.7/100=20.40

B x 1.7=20.40 x 100

B x 1.7=2040

B=2040/1.7

B=1200

Maybe we could substract the amount that she paid for the interest so her balance may be 1200-20.40=1179.60 instead of 1200