jholland03
10.11.2021 •
Mathematics
Im not getting the answer i need for example
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Ответ:
D.$46.88
Step-by-step explanation:
adjusted balance method
The interest under the adjusted balnace method are calcualte aftert all the transactions for the month are posted.
beginning balance less payment equal ending balance
4,100 - 2,300 = 1,800
now we use that value to calcualte the interest:
principal x rate x time = interest
1,800 x 0.24 x 31/365 = 36.69
interest with 31-days billing cycle: we do not consider the payment until the next billying cycle
4,100 x 0.24 x 31/365 = 83.57
difference: 83.57 - 36.69 = 46.88
As calculated it would pay $46.88 more with this method.