Solve the Problem. Round to the Nearest Cent

question 1

Multiple Choice

Solve the problem. Round to the nearest cent.
-On October 1, the unpaid balance in an account was $114. No payments were made that month. The finance charge rate was 1.4% per month of the average daily balance. Find the finance charge
For the month of October.

• A)$1.74
• B)$1.60
• C)$1.50
• D)$1.46

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Definitions:

Depression

A mental health disorder characterized by persistent sadness, lack of interest in activities, and can significantly impact daily functioning.

Rational Thoughts

Thinking processes based on logical reasoning and evidence, as opposed to emotional or irrational decision-making.

Cognitive-Behavioral Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Irrational Thoughts

Thoughts that are not based on reason or logic, often leading to negative emotions and behaviors.