Solve the Problem. Round to the Nearest Cent

question 203

Multiple Choice

Solve the problem. Round to the nearest cent.
-On January 1, the unpaid balance in an account was $195. A payment of $50 was made on January 25. The finance charge rate was 1.2% per month of the average daily balance. Find the finance
Charge for the month of January.

• A)$1.74
• B)$4.08
• C)$2.34
• D)$2.20