Poindexter has a credit card that uses the average daily balance method. For the first 15 days of a 31-day billing cycle, his balance was $2110, but then he paid off his entire balance and didn't make any new purchases. If his credit card's APR is 26%, how much was Poindexter charged in interest for the billing cycle?

A. $22.55
B. $24.05
C. $46.59
D. $0

Question

Poindexter has a credit card that uses the average daily balance method. For the first 15 days of a 31-day billing cycle, his balance was $2110, but then he paid off his entire balance and didn't make any new purchases. If his credit card's APR is 26%, how much was Poindexter charged in interest for the billing cycle?

 		A.	$22.55
 		B.	$24.05
 		C.	$46.59
 		D.	$0

e.cociuba · Answer

I got B.) but I'm a bit uneasy on this one.

anonymous · Answer

incorrect

anonymous · Answer

Which method for calculating a credit card balance takes into account both the purchases and the payments made during the current billing cycle?

 		A.	Average daily balance method
 		B.	Previous balance method
 		C.	Subsequent balance method
 		D.	Adjusted balance method

e.cociuba · Answer

Ok I don't think will do them anymore cuz I keep getting them wrong and I don't want u to fail ur test again.

anonymous · Answer

i get 3 attempts lol on my second one right now

e.cociuba · Answer

Didn't I do this one before (I think) lol A.)

e.cociuba · Answer

Moment of truth, did I get it rite?

anonymous · Answer

yes :)

e.cociuba · Answer

k.

e.cociuba · Answer

Just shoot um at me, forget about re posting them.

anonymous · Answer

It was 22.55