on my charge card, If I earn 3% back on eligable purchases for every dollar I spend how much is that?

Question

I am confused on how to calculate that? Do i multiply or ? Thanks for the help

Answer 1

Percent just means 'per hundred', the same way that 'cent' means 100 in the word 'century'.. So 3 percent, means 3 per hundred.

So its...

3 dollars for every 100 dollars of your 'eligible purchases'.

3 cents for every dollar of your 'eligible purchases'.

0.03 times your 'eligible purchases' or

3 times your 'eligible purchases' divided by 100.

Use whichever seems most understandable.

You can use google as a calculator, with '*' to mean 'multiplied by'.

e.g. if you spent $23.45

Type 23.45 * 0.03 and click search

This gives 23.45 * 0.03 = 0.7035

So you get $0.70 back.

Answer 2

Charge card companies use this type of Bull**** to entice you into a false sense of security. My advice-Save until you can purchase a well thought out buy. This scenario will earn you points in the double digits.Triple digits come with exposing these imposters!

Answer 3

3% of a dollar is 3 cents. multiply dollar amount by .03

Answer 4

Subtract this from what you pay in interest and that how it work. Say your interest rate is 10%. Subtract 10%-3%=7% so, you pay 7% interest on your purchases. They NOT giving you anything, unless you pay off your card every month, they just do it this way so you use their card and get more in debt.
Not a perfect math, but, you should see what going on.

Answer 5

That's 3 cents on a dollar and $3.00 on every $100.00.

Answer 6

3 pennies from each dollar,.03 times amount !!

Answer 7

That is $3.00 for every $100.00 you spend
3%=0.03 0.03X$100=$3.00 Enjoy.