27
practice examMultiple Choice

Practice Exam

Question 27 • Advanced Financial Algebra

Jane purchases books for $⁢200 on her credit card, which has a 15% annual interest rate. If she pays off the purchase in 4 months, assuming no grace period, how much total interest will she pay? Formula: total cost=purchase amount+(purchase amount⋅interest rate)

Answer
A
10 dollars
B
30 dollars
C
15 dollars
D
5 dollars
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