SOLUTION: the average credit card interest rate is about 19%. Use the Distributive Property to mentally calculate the amount of interest paid on a $500 balance.

Question 640523: the average credit card interest rate is about 19%. Use the Distributive Property to mentally calculate the amount of interest paid on a $500 balance.

Answer by benni1013(206) (Show Source): You can put this solution on YOUR website!
This is a great trick to pick up for mental math. The number 500 is your base.
Math:
(500*.1)+(500*.05)+(500*.04)=50+25+20 or $95.
Note:
To calculate multiply decimals by tenths, hundreths, etc.., move the number of decimals place to the left by the number of decimal place to the right.
Example:
500*.1=50. Note that there is a zero gone. Furthermore, .1+.05+.04=.19.
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