Solved

Solve the Problem The Interest Rate on the Card Is 1

Question 215

Multiple Choice

Solve the problem.
-On the October 3 billing date, Violet had a balance due of $841.71 on her credit card. The Transactions during the following month were: October 12 Charge: clothing $240.83October 15 Payment $316October 25 Charge: auto repair $361.43\begin{array}{llcc} \text {October 12 Charge: clothing } &\$240.83\\ \text {October 15 Payment } &\$316\\ \text {October 25 Charge: auto repair } &\$361.43\\\end{array}

The interest rate on the card is 1.8% per month. Using the previous balance method, find the Finance charge on November 3.


A) $25.17
B) $15.15
C) $9.46
D) $20.30

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q210: Use a day counting table to determine

Q211: Solve the problem. Where appropriate, round to

Q212: Solve the problem. Use an annual percentage

Q213: Solve the problem.<br>-Southwest Dry Cleaners believes that

Q214: Solve the problem. Assume that simple interest

Q216: Write as a decimal.<br>-77%<br>A) 0.66<br>B) 0.77<br>C) 0.077<br>D)

Q217: Write as a percent.<br>-9.1<br>A) 0.91%<br>B) 910%<br>C) 0.0091%<br>D)

Q218: Write as a percent.<br>-0.783<br>A) 0.0783%<br>B) 78.3%<br>C) 783%<br>D)

Q219: Write as a percent.<br>- <span class="ql-formula"

Q220: Solve the problem.<br>-Brad invests $3700 in an