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

1. Take Mike's total from last month and add it up with the service fee. ($1423 + $7.50)
2. 1430.5 is your total, then multiply that by .5% for intrest fee. Intrest fee is $7.153
3. You take $1430.5 + $7.153
TOTAL. $1437.65

Hope this helped.

YOUR QUESTION

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