The Unpaid Balance in an Account on May 1 Was

question 51

Multiple Choice

The unpaid balance in an account on May 1 was $223. A purchase of $17 was made on May 7. A $ 20 payment was made on May 20. The interest rate per month was 1.65% per month of the average daily balance. Find the new balance at the end of May.

• A) $205.01
• B) $221.65
• C) $225.08
• D) $223.78