Use the following rates and payments table. Monthly Rate Unpaid balance New balance Previous Balance $346 Minimum payment $10 New Purchases -% Up to $500 Under $200 (b) the new balance $ 1% $80 Find the following. (Round your answers to the nearest cent.) (a) the finance charge for the month $ (c) the minimum monthly payment $ Over $500 Over $200 5% of new balance

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Use the following rates and payments table.
Monthly Rate
Unpaid balance
New balance
Previous
Balance
$346
Minimum payment $10
New
Purchases
$80
1-=-=-%
2
(b) the new balance
$
Up to $500 Over $500
Under $200
Over $200
5% of new balance
1%
Find the following. (Round your answers to the nearest cent.)
(a) the finance charge for the month
$
(c) the minimum monthly payment
$
Transcribed Image Text:Use the following rates and payments table. Monthly Rate Unpaid balance New balance Previous Balance $346 Minimum payment $10 New Purchases $80 1-=-=-% 2 (b) the new balance $ Up to $500 Over $500 Under $200 Over $200 5% of new balance 1% Find the following. (Round your answers to the nearest cent.) (a) the finance charge for the month $ (c) the minimum monthly payment $
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Interest = Rate of Interest × Amount × Time100

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