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Solve the Problem. -On the September 20 Billing Date, Emilio Had a Balance

Question 110

Multiple Choice

Solve the problem.
-On the September 20 billing date, Emilio had a balance due of $573.56 on his credit card. During The next month, Emilio charged an additional $357.87 and makes a payment of $433. The interest Rate on the card is 1.9% per month. Using the previous balance method, find the finance charge on October 20.


A) $6.80
B) $2.67
C) $9.47
D) $10.90

Correct Answer:

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