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6 February, 06:15

If the interest charge is 1.5 percent per month on an overdraft, how much interest is due one month after an overdraft of $50?

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  1. 6 February, 07:56
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    Rewrite the percentage as a decimal:

    1.5% = 0.015

    Multiply by the amount of the overdraft:

    50 x 0.015 = 0.75

    The interest is $0.75
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