Find the Finance Charge on the Open-End Charge Account $\$ 10.08$

question 80

Multiple Choice

Find the finance charge on the open-end charge account. Assume interest is calculated on the unpaid balance of the account.
-Unpaid Balance Monthly Interest Rate

• A) \(\$ 10.08\)
• B) $4.61
• C) \(\$ 5.54\)
• D) \(\$ 8.40\)

---

Definitions:

Diffusion

The process by which innovations move through an organization.

Managerial Innovations

The introduction and implementation of new methods, policies, or procedures in management to improve efficiency, productivity, and overall organizational performance.

Managerial Bonuses

Financial rewards given to managers above their regular pay, typically linked to performance or organizational success.

Technical Information

Detailed data and knowledge about specific processes, designs, systems, or products, often requiring specialized understanding or expertise.