SOLUTION: It’s time to go shopping! You grab your Best Purchase credit card, which has an annual interest rate of 18%. The unpaid balance on your card for the current billing cycle is $285.7

Algebra ->  Percentages: Solvers, Trainers, Word Problems and pie charts -> SOLUTION: It’s time to go shopping! You grab your Best Purchase credit card, which has an annual interest rate of 18%. The unpaid balance on your card for the current billing cycle is $285.7      Log On


   

Question 676238: It’s time to go shopping! You grab your Best Purchase credit card, which has an annual interest rate of 18%. The unpaid balance on your card for the current billing cycle is $285.76. On your shopping trip, you purchase four items: a Blu-ray player, two 4-GB flash drives, and a 19-inch flat-screen television. You purchase all the items with your credit card for a total of $352.18. When the bill comes at the end of the month, you decide to pay the entire total balance.
1.What is the monthly interest rate on the card?
2.What are the interest charges on the card? (Calculate only on last month’s unpaid balance.)
3.What is the total balance on your card?
(Round all your answers to the nearest hundredth or cent.)
Show your work please!!!!!
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


1. Divide 0.18 by 12

2. Multiply last month's balance by the answer to part 1

3. Add last month's balance, the answer to part 2, and the total of the new charges.

John

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