Question

You see a pair of jeans on sale for 10% off the regular price of $50. You have a credit card with a 13% interest
rate. If you buy the jeans today with the credit card and pay them off after two months, are
you paying more or less than the regular $50 price for them? Please explain your decision

Answer 1

The person will pay more than the regular $50, he will pay $50.85 for the jeans that he brought for the with the credit card.

What is credit card?

A credit card is a payment card that is issued to users to inform them of their need to pay a merchant for goods and services based on their outstanding debt.

The rebate of 55 days are given to the credit card holder for the repayment of money that he purchased with the help of credit card.

In the given case, the customer will pay $45 for purchasing the shoes of $50, with the help of credit card. He makes the payment of $45 by the credit card.

He will incur the interest at the rate of 13% on the regular price of $50, because the limit of 55 days is crossed.

$\ 45 \times 13\% = 50.85$

Therefore, the person will pay more from the regular price of $50.

Learn more about the credit card, refer to:

https://brainly.com/question/27350251

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