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On October 1st Joe Charged $900 to His Credit Card,on

Question 78

Multiple Choice

On October 1st Joe charged $900 to his credit card,on October 10th he charged another $1,300 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.

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