Maya's credit card has an APR of 11.84% and a billing cycle of 30 days. The table below shows her transactions with
that credit card in the month of September
Date
9/1
9/8
9/13
9/26
Amount ($) Transaction
395.61 Beginning balance
24.13 Purchase
68.57 Payment
31.77 Purchase
Find Maya's finance charge for September using the previous balance method, the adjusted balance method, and the
daily balance method. Among those three possible finance charges, what is the value of the one which is neither lowest
nor highest?
a $3.79
b. $3.90
C. $3.68
d. $4.45

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Respuesta :

nataleemaem nataleemaem · Answer 1 · 2020-11-12T18:52:48+01:00

Answer:

C. $3.68

Step-by-step explanation:

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Martebi Martebi · Answer 2 · 2022-04-06T13:11:06+02:00

Based on the three possible finance charges, the value of the one that is neither lowest nor highest is $3.68.

A finance charge is regarded as the cost incurred when a person borrows money and it often includes interest and other fees.

To find the finance charges, the formula is:

= Amount transacted x Interest rate / 12 months

395.61 x [tex]\frac{11.84}{100}[/tex] / 12

= 3.68

Therefore the correct option is option c.

Learn more about billing cycle from

https://brainly.com/question/19268577