Problemas
Question 1 of 10 The opening balance of one of the 31-day billing cycles for Suzy's credit card was 7400, but after 15 days Suzy made a payment of 4900 to decrease her balance, and it stayed the same for the remainder of the billing cycle. If her credit card's APR is 22% how much more in interest would she pay for the billing cycle with the previous balance method than with the adjusted balance method? A. 46.71 B 138.27 c 91.56 D. 184.98
Roztwór
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maestro · Tutor durante 5 años
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Respuesta
To solve this problem, we need to calculate the interest paid using both the previous balance method and the adjusted balance method, and then find the difference between the two.Given information:- The opening balance of the billing cycle is
4,900, reducing her balance to
7,400 × (0.22 / 12) × (31 / 365) =
2,500 × (0.22 / 12) × (31 / 365) =
46.71 -
37.57Therefore, the correct answer is A. $46.71.