Solve the problem.
-On the January 25 billing date, Vivian had a balance due of $375.46 on her credit card. The Transactions during the following month were: $\begin{array}{lll}
\text { January } 26 & \text { Charge : curtains } & \$ 378 \
\text { January } 27 & \text { Payment } & \$ 110.45 \
\text { February } 16 &\text { Charge: tires } & \$ 207.08
\end{array}$

The interest rate on the card is 1.2% per month. Using the average daily balance method, find the Finance charge on February 25 (January has 31 days).
A) $8.32
B) $2.08
C) $8.42
D) $8.38

Question

Solve the problem.
-On the January 25 billing date, Vivian had a balance due of $375.46 on her credit card. The Transactions during the following month were: $\begin{array}{lll}
\text { January } 26 & \text { Charge : curtains } & \$ 378 \
\text { January } 27 & \text { Payment } & \$ 110.45 \
\text { February } 16 &\text { Charge: tires } & \$ 207.08
\end{array}$

The interest rate on the card is 1.2% per month. Using the average daily balance method, find the Finance charge on February 25 (January has 31 days).
A) $8.32
B) $2.08
C) $8.42
D) $8.38

Quizplus · Accepted Answer

The Answer of Solve the problem.
-On the January 25 billing date, Vivian had a balance due of $375.46 on her credit card. The Transactions during the following month were: $\begin{array}{lll}
\text { January } 26 & \text { Charge : curtains } & \$ 378 \
\text { January } 27 & \text { Payment } & \$ 110.45 \
\text { February } 16 &\text { Charge: tires } & \$ 207.08
\end{array}$

The interest rate on the card is 1.2% per month. Using the average daily balance method, find the Finance charge on February 25 (January has 31 days).
A) $8.32
B) $2.08
C) $8.42
D) $8.38

Solve the Problem The Interest Rate on the Card Is 1