Estimate the Answer by Picking the Best Choice Without Calculating

Multiple Choice

Estimate the answer by picking the best choice without calculating. If your credit card balance is $962, you make a $50 payment, the APR is 6%, and the interest is calculated according to the previous balance method, then the finance charge is __________.

A) $57.72
B) $4.81
C) $4.58
D) $4.56
E) $54.72