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On the October 15 Billing Date, Jacob Had a Balance $21.94\$ 21.94

Question 174

Multiple Choice

On the October 15 billing date, Jacob had a balance due of $279.71 on his credit card. The transactions during the following month were: October 17 Payment $21.94\$ 21.94
October 30 Charge: groceries $60.23\$ 60.23
November 10 Charge: freezer $297.02\quad \$ 297.02 The interest rate on the card is 1.2% per month. Using the average daily balance method, find the
Balance due on November 15 (October has 31 days) .


A) $618.97
B) $619.89
C) $619.08
D) $619.07

Correct Answer:

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