Your Credit Card Had Balances of $800 for 13 Days,$600

question 22

Multiple Choice

Your credit card had balances of $800 for 13 days,$600 for 5 days,and $650 for 12 days.Assume an annual interest rate of 18 percent,30-day billing cycle and 20-day grace period.How much is the interest charge using the average daily balance method,if the credit card gets paid off five days after the statement due date?

• A)$1.74
• B)$8.71
• C)$12.20
• D)$19.17

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Definitions:

Non-Communist Government

A government system that does not adhere to the principles of communism, often emphasizing private property, market economy, and individual freedoms.

Tadeusz Mazowiecki

A Polish politician and journalist who served as the first non-communist Prime Minister of Poland since 1945, playing a significant role in the nation's transition to democracy.

Velvet Revolution

A non-violent transition of power in Czechoslovakia in 1989, marking the end of Communist rule and the onset of democracy.

Nonviolent

Refers to the practice of advocating for or achieving goals through peaceful methods and without the use of force.