#### Question

The terms of Medina’s credit card state that the APR is 12.4%, and if a payment is not received by the due date, the APR will increase by w%. The credit card company received Medina’s payment three days after the due date in February. Write the interest rate, in decimal form that she will be charged in March, assuming she carried a balance from February.

#### Solution

Verified#### Step 1

1 of 3$12.4\% + w\%$

The new APR is the sum of the APR and the increasement.

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