Determine the finance charge for a credit card that has the given average daily balance and interest rate.   ​Average daily balance: $827.60; monthly interest rate: 2%. Round your answer to the nearest hundredth of a percent.     50.00%     3.00%     16.55%     33.10%

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 3ECP: Your family has annual loan payments equal to 28 of its annual income. During theyear, the loan...
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Determine the finance charge for a credit card that has the given average daily balance and interest rate.
 

​Average daily balance: $827.60; monthly interest rate: 2%. Round your answer to the nearest hundredth of a percent.

   

50.00%

   

3.00%

   

16.55%

   

33.10%

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