A Credit Card Statement Showed These Transactions During October

question 44

Multiple Choice

A credit card statement showed these transactions during October. The credit card has an interest rate of 6% on the average daily balance. Find the average daily balance,
The finance charge for the month, and the new balance on November 1. [Hint: Remember that
October has 31 days.]

• A)Average daily balance = $286.53; finance charge = $17.19; new balance = $132.66
• B)Average daily balance = $338.66; finance charge = $20.32; new balance = $135.79
• C)Average daily balance = $284.44; finance charge = $17.07; new balance = $132.54
• D)Average daily balance = $288.91; finance charge = $17.33; new balance = $132.80

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Definitions:

Middle Childhood

A developmental phase from around age 6 to 12, characterized by physical, cognitive, and social growth, and an increasing capacity for self-regulation.

Teacher Expectations

The beliefs or preconceived notions educators hold about their students' abilities and potentials, which can significantly influence student outcomes and performance.

Student Success

The achievement of personal or academic goals by a student, often measured by grades, graduation, or the acquisition of necessary skills.

Self-Perception

An individual's awareness and understanding of their own personality, traits, behaviors, and characteristics.