Roderick's credit card company calculates a finance charge based upon a periodic rate of 1.2% on all unpaid balances. If Roderick has an unpaid balance of $200, determine the finance charge that he will be assessed.
This question can be reduced to:
" what is 1.2% of 200$?" Whenever you see the word "of" it means to multiply. So, this problem becomes 1.2% x $200, and you should change the 1.2% to .012; thus .012 x $200 = $2.40
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