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2. John has a VISA credit card. His unpaid balance from last month was $520.00. He made no charges on the account this past month.
2. John has a VISA credit card. His unpaid balance from last month was $520.00. He made no charges on the account this past month. His annual percentage rate on the card is 18%.
a. What will be his finance charge for this month? the finance charge for this month = 520*18% = 93.6
b. If he wants to pay the card in full, what will he have to pay this month? The pay for month = 520+93.6 = 613.6
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