Hi, I need help with question 1 and 2. There picture shows to the left shows the steps. Thank you.

Find the Monthly Percentage Rate for Cherice: hat about Buying on Credit? Name Unpaid Balance APR Monthly Percentage Rate - Finance Charge Cherice $100 2% Max $350 12% What about Buying on Credit? Dave $450 18% In this lesson you will learn about buying on credit and the charges that s Ralph $500 18% Janice $900 24% First, you will view information about buying on credit. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). ? Then, you will complete the questions that follow. BIUS Paragraph V Arial > 10pt V iii V You opened your credit card account. Now, you can use your credit card to bu Each month you must send the credit card company a payment. If you do not the unpaid balance. An annual percentage rate (APR) is used to compute the new finance charge EXAMPLE Sean used a credit card to buy new clothes for his job interview. The new clot QUESTION 2 is 18%. What will the finance charge be for one month on the unpaid balance Find the Finance Charge Rate for Cherice: STEP 1: Find the monthly percentage rate. Name Unpaid Balance APR Monthly Percentage Rate Finance Charge Change the APR to a decimal number 18% = .18 Divide the APR by 12. (# of months in a year) 0.18 + 12= 0.015 Cherice $100 12% Max $350 12% STEP 2: Find the unpaid balance. $220 - $20 = $200 Dave $450 18% Subtract the payment from the total bill. Ralph $500 18% STEP 3: Multiply the unpaid balance $200 x 0.015 = $3 Janice $900 24% by the monthly percentage rate. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). The finance charge for one month on the unpaid balance is $3. BIUS Paragraph Arial V 10pt V V !!!