What is the monthly finance charge if the average daily balance is $20, the daily periodic rate is 0.04%, and the number of days in the cycle is 30?

Answer-

The monthly finance charge will be $0.24 or 24 cents.

Solution-

We know that,

As here, daily periodic rate is 0.04%, i.e

Putting the values in the formula,

The monthly finance charge is $0.24.

Step-by-step explanation:

Given : The average daily balance is $20, the daily periodic rate is 0.04%, and the number of days in the cycle is 30.

To find : What is the monthly finance charge?

Solution :

Let the finance charge be x,

The average daily balance is $20,

The daily periodic rate is 0.04%=0.0004,

Number of days = 30

We know that,

Therefore, The monthly finance charge is $0.24.

y = 2x

step-by-step explanation:

if you divide each number in the sequence, you'll see that they all have a multiple factor of 2. each number in the series, and any other numbers which may continue, will be multiplied by 2. therefore, y is the next number in the sequence, and x is the current one, so, our formula will be y = 2x.

total amount of money that he should pay if he has not used his duty free exemption is $98

step-by-step explanation:

given a united states citizen returning to the states declares the following items at the customs office: 3 shirts at $8.50 each 2 dresses at $27.50 each 1 pair of gold cuff links at $17.50 per pair. we have to find how much he pay

cost of 3 shirts if one cost at $8.50 is

cost of 2 dresses if one cost at $27.50 is  

cost of 1 pair of gold cuff at $17.50

so, total amount of money that he should pay if he has not used his duty free exemption is   $25.5+$55+$17.50=$98