6
QuizMultiple Choice

Finance Charges

Question 6 • Financial Math B (MA402) '25

Hannah has a credit card with an APR of 11.90% and a billing cycle of 30 days. The following table shows Hannah’s transactions in the month of April. DateAmount ($)Transaction4/1322.95Beginning balance4/1019.87Purchase4/1450.00Payment4/1971.21PurchaseIf Hannah’s credit card company calculates finance charges using the daily balance method, what will her April finance charge be?a.$2.71b.$3.20c.$3.30d.$3.61

Answer
A
A
B
B
C
C
D
D
Previous
Next
Hannah has a credit card with an APR of 11.90%…