Azmir's checking account pays 0.75% interest monthly and has a $7.50 service fee. If Azmir's balance last month was $825, find the amount of credit or debit to his account after interest and service fee are both applied.

Question

Jordin Mcdaniel

Mathematics

24 August, 03:16

Azmir's checking account pays 0.75% interest monthly and has a $7.50 service fee. If Azmir's balance last month was $825, find the amount of credit or debit to his account after interest and service fee are both applied.

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Answers (2)

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Keenan · Answer 1

We are given with a current balance of $825 and a 0.75% interest rate with an additional constant of $7.50 service fee. In this case, we are asked to determine the total debit. The formula is F = P (1 + in) + c where c is the constant fee, i is the interest and n is the number of months assuming n is equal to 1. F = 838.6875

Terrell Adams · Answer 2

The answer is Debit of $1.31 hopes