Question

6. If Scott Hoff has a balance of $429.50 on a credit card that charges a finance charge computed at 2.5%, what is the
new balance? Round your answer to the nearest cent.
A $432.00
B $486.98
IC $440.24
D $455.35
HELP PLS WHATS THE SOLUTION

Answer 1

Answer:

C.440.24

Step-by-step explanation:

To get the new balance first multiply the extra balance

$\frac{2.5}{100}*429.50$

$\frac{1073.75}{100}$

$10.7375$

so add the new balance to 429.50

429.50+10.7375=440.2375=440.24

Answer 2

Answer:

C. $440.24

Step-by-step explanation:

Multiply 0.025 (the decimal form of 2.5%) to 429.50:

429.50 · 0.025 = 10.7375

Then add the sum to the original balance:

429.50 + 10.7375 = 440.2375

Round to nearest hundredth:

440.24