Mr. Smith has incurred a 2% finance charge because he was not able to pay on time for his balance worth $150. If he plans to settle his balance today, how much will Mr. Smith pay? Let's answer step by step:
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The finance charge amounts to $150 x 2 / 100 = $3. Thus, Mr. Smith will pay a total of $150 + $3 = $153. The answer: 153.
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