Mathematics

Pope

3 June, 16:25

You just obtained a credit card. You immediately purchase a digital camera for $160. Your credit limit is $4000. Let's assume that you make no payments and purchase nothing more and there are no other fees. The monthly interest rate is 1.42%. What is the growth factor of your credit card balance? a. 0.0142 c. 14.2 b. 1.0142 d. 1.42

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