Myrtle has a credit card that uses the average daily balance method. For the first 21 days of one of her billing cycles, her bal
ance was $2030, and for the last 9 days of the billing cycle, her balance was $1450. If her credit card's APR is 23%, which of these expressions could be used to calculate the amount Myrtle was charged in interest for the billing cycle?
(a)- (0.23/365 x30)÷(21x $2030+ 9x$1450/30)
(b)- (0.23/365 x30)÷(9x $2030+ 21x$1450/30)
(c)- (0.23/365 x31)÷(9x $2030+ 21x$1450/31)
(d)- (0.23/365 x31)÷(21x $2030+ 9x$1450/31)
(a)- (0.23/365 x30)÷(21x $2030+ 9x$1450/30)
(b)- (0.23/365 x30)÷(9x $2030+ 21x$1450/30)
(c)- (0.23/365 x31)÷(9x $2030+ 21x$1450/31)
(d)- (0.23/365 x31)÷(21x $2030+ 9x$1450/31)
2 answers:
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Answer:
Choice (3) is correct.
Step-by-step explanation:
Given expression is
Now we need to simplify this and check which of the given choices best match with it.
{using formula
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{using formula
}
{using formula
}
Hence choice (3) is correct.