Estimate the Answer by Picking the Best Choice Without Calculating

question 123

Multiple Choice

Estimate the answer by picking the best choice without calculating. If your credit card balance is $962, you make a $50 payment, the APR is 6%, and the interest is calculated according to the previous balance method, then the finance charge is __________.

• A) $57.72
• B) $4.81
• C) $4.58
• D) $4.56
• E) $54.72

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Definitions:

Misbehavior

Actions or conduct that are inappropriate or violate expected rules and norms within a given context.

Unconscious Mental Activity

Activity of the mind that occurs without conscious awareness, influencing thoughts, feelings, and behaviors, a key concept in psychoanalytic theory.

Axiom

A statement or proposition that is regarded as being established, accepted, or self-evidently true.

Personality Psychologist

A branch of psychology focused on studying and understanding the variations in individuals' characters and traits.