Solve the Problem. -The Unpaid Balance in an Account on May 1 Was

question 87

Multiple Choice

Solve the problem.
-The unpaid balance in an account on May 1 was $184. A purchase of $35 was made on May 3. A $ 75 payment was made on May 17. The finance charge rate was 1.65% per month of the average daily balance. Find the new balance at the end of May.

• A)$110.07
• B)$145.65
• C)$146.98
• D)$185.10

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Definitions:

Continuing Education

Ongoing learning activities aimed at professionals to maintain, improve, and broaden their knowledge and skills.

Department Manager

A professional responsible for overseeing the operations, personnel, and budget of a specific department within an organization.

Cross-Training

An approach where employees are trained in multiple functions or roles within an organization, promoting versatility and flexibility in workforce skills.

Participative Budgeting

A budgeting process where employees at all levels are involved in determining the budget for the organization, which can lead to increased motivation and better adherence to financial plans.