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April 20, 2014

Homework Help: caluculating the interest! please help

Posted by Sarah on Tuesday, November 6, 2012 at 5:00pm.

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

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