10
QuizMultiple Choice

Finance Charges

Question 10 • Financial Math B (MA402) '25

Laura’s credit card has an APR of 12.04%, and it computes finance charges using the daily balance method and a 30-day billing cycle. On June 1st, Laura had a balance of $606.40. She made exactly one transaction in June: a payment of $55.25. If Laura’s finance charge for June was $5.71, on which day did she make the payment?a.June 8thb.June 12thc.June 15thd.June 20th

Answer
A
A
B
B
C
C
D
D