  Math Central - mathcentral.uregina.ca  Quandaries & Queries    Q & Q    Topic: finance charge   start over

One item is filed under this topic.    Page1/1            Finance charge 2019-01-03 From Kenneth: Hello Math Central:   The calculation for determining the finance charge per \$100.00 (FC/100) is determined by the following: Finance Charge/Amount financed * \$100.00 = the finance charge per \$100.00 Since the denominator (amount financed) is not multiplied by \$100.00, how does the result equal the finance charge per \$100.00? The numerator (finance charge) is the only amount multiplied by \$100.00.   Example 1.  3/4 * 6 = 18/4 not 18/24 The 4 is not multiplied by the 6. Example 2.  \$49.00/\$200.00 * \$100.00 If \$49.00 is divided by \$200.00 the result is \$0.245/\$1.00. If \$0.245/\$1.00 * \$100.00 = \$24.50/\$1.00. This answer is not \$24.50/\$100.00. How does the above equal the finance charge per \$100.00 when the denominator is not multiplied by \$100.00? If the division is not used to indicate the \$0.245 per \$1.00, the result becomes \$49.00/\$200.00 * \$100.00 = \$4,900.00/\$200.00.   I thank you for any helpful reply.   .......... Kenneth Answered by Penny Nom.      Page1/1    Math Central is supported by the University of Regina and The Pacific Institute for the Mathematical Sciences.    about math central :: site map :: links :: notre site français