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21 September, 00:52

You got a new credit card and spent $200 on the card last month. You forgot to make the payment on time and were assessed a $40 late fee. What is the late fee as a percentage of your balance?

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  1. 21 September, 03:33
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    The answer is 20%, 40 is 1/5 of 200, therefore it is 20%
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