Multiple Choice
On October 1ˢᵗ Joe charged $900 to his credit card, on October 10ᵗʰ he charged another $1300 to his credit card, and on October 15ᵗʰ he charged an additional $100. His credit card charges him an Annual Percentage Rate (APR) of 18% compounded monthly. Using the Average Daily Balance Method calculate Joe's finance charge for the month of October.
A) $7.12
B) $28.16
C) $212.36
D) $523.14
E) None of the above are correct answers.
Correct Answer:
Verified
Correct Answer:
Verified
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