Solve the Problem. -On the September 20 Billing Date, Emilio Had a Balance

question 110

Multiple Choice

Solve the problem.
-On the September 20 billing date, Emilio had a balance due of $573.56 on his credit card. During The next month, Emilio charged an additional $357.87 and makes a payment of $433. The interest Rate on the card is 1.9% per month. Using the previous balance method, find the finance charge on October 20.

• A) $6.80
• B) $2.67
• C) $9.47
• D) $10.90

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Definitions:

Clear Limits

Well-defined boundaries that establish the expectations and rules guiding individuals' behaviors within a certain context.

Reason

The mental capacity to logically think, infer, and make conclusions based on evidence and rational thought.

Concrete Operational

A stage in Piaget's theory of cognitive development, occurring roughly between the ages of 7 and 12, where children gain the ability to think logically about concrete events.

Religious Development

The process and stages of integrating religious beliefs, practices, and values into one's life span and identity formation.