Question

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 8th

b.

June 12th

c.

June 15th

d.

June 20th

Answer 1

The answer is either B or D                                                 

Answer 2

Answer:

c. June 15th

Explanation: