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What should be the first step in calculating a monthly credit finance charge?
change the percent to a decimal
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2.?
To calculate the finance charge, multiply the credit card balance by the monthly interest rate. For a balance of $3,299.19 at a monthly rate of 1.2% (0.012), the finance charge is: Finance Charge = $3,299.19 × 0.012 = $39.59. Therefore, the finance charge for that month is approximately $39.59.
What is the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent?
39.59
What protects you when applying to receive credit?
Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
$2.99
What should be the first step in calculating a monthly credit finance charge?
change the percent to a decimal
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2.?
To calculate the finance charge, multiply the credit card balance by the monthly interest rate. For a balance of $3,299.19 at a monthly rate of 1.2% (0.012), the finance charge is: Finance Charge = $3,299.19 × 0.012 = $39.59. Therefore, the finance charge for that month is approximately $39.59.
What is the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2?
$39.59
What is the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent?
39.59
Protects you when applying to receive credit?
Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.
What protects you when applying to receive credit?
Calculate the finance charge on a credit card balance of 3,299.19 at a monthly rate of 1.2%.
Monique's previous credit card balance is 199.26 and she has a monthly finance charge of 1.5 How much will the credit card company assess in finance charges on this balance?
$2.99
Does it affect your credit score if you repay your credit card dues much before your monthly statement is generated?
no, but your finance charge will be lower
Calculate the finance charge on a credit card balance of 3299.19 at a monthly rate of 1.2 percent?
$39.59
Leandre's previous credit card balance is 1299.32 What would her finance charge be if the monthly rate is 1.4 percent?
18.19
How is interest on consumer credit transactions computed?
finance charges are imposed on unpaid balances each month. To determine the monthly finance charge rate, the annual rate is divided by 12
If the finance charge for November is 3.82 which method of calculating the finance charge does Dennis and credit card company use?
If the finance charge for November is $3.82, it suggests that the credit card company likely uses the average daily balance method or the adjusted balance method. These methods are common for calculating finance charges, as they take into account the balance over the billing cycle rather than just the end-of-cycle balance. This allows for a more accurate reflection of interest based on the actual usage of the credit card during the month. However, without more specific details about how the balance was calculated, it's difficult to determine the exact method used.
