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Question 3 • 2025-2026 GSP Mathematical Reasoning for Decision Making

Dennis has a credit card with an APR of 10.14% and a billing cycle of 30 days. The following table shows his transactions with that credit card in the month of November.DateAmount ($)Transaction11/1517.87Beginning balance11/931.63Purchase11/2364.10Purchase11/2665.75PaymentIf the finance charge for November is $3.82, which method of calculating the finance charge does Dennis’s credit card company use?a.adjusted balance methodb.previous balance methodc.daily balance methodd.there is not enough information to determine which method was used

Answer
A
A
B
B
C
C
D
D
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