The cost of credit — Question 3

Uh oh —  Alex neglected to make his payment on time. As a result, the bank charged him a $20 late fee. Therefore the total amount Alex ended up paying the bank was $238.00. Had he paid cash, the game console would have cost him $211.94. How much did using a credit card cost him?
(Watch out! The bank includes the late fee in the outstanding balance, which means Alex will have to pay interest on that amount too! Ouch!!)


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