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Find the Finance Charge on the Open-End Charge Account $611.60\$ 611.60

Question 125

Multiple Choice

Find the finance charge on the open-end charge account. Assume interest is calculated on the unpaid balance of the account.
-Unpaid Balance $611.60\$ 611.60 Monthly Interest Rate 112%1 \frac { 1 } { 2 } \%


A) $9.17\$ 9.17
B) $7.64\$ 7.64
C) $9.17\$ 9.17 .
D) $11.01\$ 11.01

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