Question

Calculate the finance charge on a credit card balance of $3,299.19 at a monthly rate of 1.2%.

Answer 1

Given that the monthly charges for a credit card is 1.2% and the credit card balance is $3,299.19. Therefore the amount charged per month will be:
[rate]/100*[credit card balance]
=1.2/100*3,299.19$
=39.59.
The answer is 39.59