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Solve the Problem The Interest Rate on the Card Is 1

Question 133

Multiple Choice

Solve the problem.
-On the June 4 billing date, Maria had a balance due of $1956.47 on her credit card. The transactions During the following month were:  June 7 Payment $140.36 June 28 Charge: bus ticket $174.83 June 29 Charge: hotel $60.75 June 30 Charge: restaurant meal $21.55\begin{array} { l r } \text { June } 7 \text { Payment } & \$ 140.36 \\\text { June } 28 \text { Charge: bus ticket } & \$ 174.83 \\\text { June } 29 \text { Charge: hotel } & \$ 60.75 \\\text { June } 30 \text { Charge: restaurant meal } & \$ 21.55\end{array}
The interest rate on the card is 1.8% per month. Using the average daily balance method, find the Balance due on July 4 (June has 30 days) .


A) $2107.16
B) $2247.41
C) $2107.05
D) $1849.92

Correct Answer:

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