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Use the Average Daily Balance Method to Compute the Amount

question 45

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Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use a 365-day year.
-Month: May (31 days) Previous month's balance: $960 Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use a 365-day year. -Month: May (31 days) Previous month's balance: $960   A) $7.88 B) $12.35 C) $11.31 D) $8.76


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