Question

The card company totals your balance each day during the billing period, adds these daily balances together and divides by the number of days in the billing period is called:

Compound Interest

Annual Percentage Rate (APR)

Average daily balance method

Complex daily tota

Answer 1

Average daily balance method

Step-by-step explanation:

Compound interest does not make since.

Complex daily total does not make any since either.

APR is not correct.

The answer is C. Average daily balance method

Answer 2

The appropriate response is average daily balance method. This is a typical bookkeeping technique where Visa intrigue charges are computed utilizing the aggregate sum due on a card toward the finish of every day. The normal day by day adjusts adds up to every day's adjust for the charging cycle and partitions by the aggregate number of days in the charging cycle.