Solve the Problem The Interest Rate on the Card Is 1

question 92

Multiple Choice

Solve the problem.
-On the December 8 billing date, Hakeem had a balance due of $610.99 on his credit card. The Transactions during the following month were: $\begin{array}{lll}\text { December } 10 & \text { Charge : football tickets } & \$ 152.76 \\\text { December } 12 & \text { Payment } & \$ 82.67 \\\text { January } 3 & \text { Charge: restaurant meal } & \$ 55.01\end{array}$
The interest rate on the card is 1.4% per month. Using the average daily balance method, find the Balance due on January 8 (December has 31 days) .

• A) $745.28
• B) $745.43
• C) $620.66
• D) $745.76

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A collaboration or partnership formed to promote fairness, access, and equal opportunities in various sectors, such as education, healthcare, and employment.

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Greenfield Investment

A form of foreign direct investment where a parent company builds its operations in a foreign country from the ground up.