You just obtained a credit card. you immediately purchase a stereo system for $200. your credit limit is $1000. let’s assume that you make no payments and purchase nothing more and there are no other fees. the monthly interest rate is 1.42%. what is the growth rate of your credit card balance? a. 0.42 c. 14.2 b. 0.0142 d. 142 select the best answer from the choices provided

 b. 0.0142

Step-by-step explanation:

We know that the growth rate (r) of credit balance with monthly interest 'i' % is given by :-

Now, the given statement : The monthly interest rate is 1.42%.

Then, the  growth rate of your credit card balance will be :-

Hence, the  growth rate of your credit card balance =0.0142.

answer 1 : option "c"

answer 2 : option "d"

answer 3 : option "b"

answer 4 : option "d"

answer 5 : option "b"

answer 6 : option "a"

answer 7 : option "c"

answer 8 : option "d"

answer 9 : option "c"

answer 10 : option "d"

answer 11 : option "c"

answer 12 option "b"

answer 13 option "c"

answer 14 option "c"

answer 15 option "d"

answer 16 option "a"

answer 17 option "b"

answer 18 option "c"

answer 19 option "a"

answer 20 option "a"

answer 21 option "c"

d