Posted by **Sarah** on Tuesday, November 6, 2012 at 4:28pm.

Calculate the interest on a $1700 credit card bill that shows a 22% APR, using the average daily balance method. Assume you sent a payment of $375 on the first day of a month that has 30 days and it takes 5 days for this payment to be received and recorded. Round to the nearest penny.

Calculate the interest on a $1700 credit card bill that shows a 22% APR, using the average daily balance method. Assume you sent a payment of $375 on the first day of a month that has 30 days and it takes 5 days for this payment to be received and recorded. Round to the nearest penny.

a.$27.04

b.$25.09

c.$28.56

d.$28.60

----------

I just can't figure this question out...... please help!

I get the answe 30.73 but it is not the right answer. I did this.

1700 x 0.22 x 30/365= 30.73

## Answer This Question

## Related Questions

- caluculating the interest! please help - Calculate the interest on a $1700 ...
- Algbra - Marsha must have surgery and she does not have the $2,700 cash ...
- algebra - Calculate the monthly finance charge for the credit card transaction. ...
- fiances - Calculate the monthly finance charge for the credit card transaction. ...
- finance charges - Calculate the monthly finance charge for the credit card ...
- Math - Calculate the monthly finance charges for the following credit card ...
- math - Calculate the monthly finance charge for the following credit card ...
- ALGEBRA - Calculate the monthly finance charge for the following credit card ...
- ALGEBRA - Calculate the monthly finance charge for the following credit card ...
- math - Calculate the monthly finance charge for the following credit card ...

More Related Questions