SOLUTION: phillip chargered $400 worth of goods on his credit card. Oh his first bill, he was not chargered any interest, and he made a payment of $20. He then charged another $18 worth of g

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: phillip chargered $400 worth of goods on his credit card. Oh his first bill, he was not chargered any interest, and he made a payment of $20. He then charged another $18 worth of g      Log On


   

Question 307962: phillip chargered $400 worth of goods on his credit card. Oh his first bill, he was not chargered any interest, and he made a payment of $20. He then charged another $18 worth of goods. On his second bill a month later, he was charged 2% interest on his entire unpaid balance. How much iinterest was phillip charged on his second bill?
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
400-20+18=398 WAS THE AMOUNT OF THE SECOND BILL.
398*.02=$7.96 IS THE INTEREST.