Solve the Problem. -Sergio's Internet Provider Charges Its Customers $8 Per Month Plus

question 243

Multiple Choice

Solve the problem.
-Sergio's internet provider charges its customers $8 per month plus 5¢ per minute of on-line usage. Sergio received a bill from the provider covering a 2-month period and was charged a total of $46.50. How many Minutes did he spend on-line during that period? (Round to the nearest whole minute, if necessary.)

• A)The number of minutes is 341.
• B)The number of minutes is 610.
• C)The number of minutes is 221.
• D)The number of minutes is 61.

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Definitions:

Interest Expense

The cost incurred by an entity for borrowed funds, often reported on the income statement as a non-operating expense.

Unamortized Premium

The portion of the bond premium that has not yet been amortized (expensed) over the life of the bond.

Bonds Payable

Long-term liabilities representing the amount owed by an entity to bondholders.

Face Value

The nominal or dollar value printed on a bond or stock, representing the amount due at maturity for a bond or the value assigned to a stock share at issue.