On the September 1 Billing Date, Martin Had a Balance

question 68

Multiple Choice

On the September 1 billing date, Martin had a balance due of $987.19 on his credit card. The transactions during the following month were: The interest rate on the card is 1.4% per month. Using the average daily balance method, find the
Finance charge on October 1 (September has 30 days) .

• A)$20.11
• B)$24.13
• C)$20.30
• D)$19.79

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Definitions:

After Birth

Refers to the period following the birth of an infant, focusing on recovery for the mother and adjustment to life for the newborn.

Sensorimotor Substage

A phase within Piaget's sensorimotor stage, which describes the development of infants through their senses and motor activities.

Tertiary Circular Reactions

A stage in Jean Piaget's theory of cognitive development, occurring roughly between 12 and 18 months, characterized by the purposeful adaptation of established schemes to new situations.

Secondary Circular Reactions

A developmental stage in infants marked by the repetition of actions that produce interesting outcomes, demonstrating an emerging awareness of cause and effect.