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Mike's checking account pays 0.5% interest monthly and has a $7.50 service fee. If Mike's balance last month was $1423, find the amount of credit or debit to his account after interest and service fee are both applied.

A. Debit of $7.12
B. Debit of 39 cents
C. Credit of $7.50
D. Credit of 39 cents

Respuesta :

ssaidg17
the answer is B $1,423 * .005 = $7.115. Now take $7.115 and subtract $7.50 = - 38.5¢. This rounds to -39¢, which is a debit on the bank's books. The answer is B

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