Question

Marlene has a credit card that uses the adjusted balance method. For the first

10 days of one of her 30-day billing cycles, her balance was $570. She then
made a purchase for $120, so her balance jumped to $690, and it remained
that amount for the next 10 days. Marlene then made a payment of $250, so
her balance for the last 10 days of the billing cycle was $440. If her credit
card's APR is 15%, which of these expressions could be used to calculate the
amount Marlene was charged in interest for the billing cycle?
OA. •30)($570)
0.15
365
OB.
B. (15.30)($320)
0.15
365
OD.
O C. •30) (10 • S
10 $570 +10 $690+10 $440
30
(0.15
10 $570+10 $690+10 $250
30
15.30) (10.

Answer 1

The correct expression to calculate the amount Marlene was charged in interest for the billing cycle is OA. (30)($570) (0.15/365).

Answer 2

Answer: A. •30)($570)

0.15

365

Step-by-step explanation: Interest charged = Average daily balance x Daily interest rate x Number of days in billing cycle

Interest charged = $567.33 x 0.0411% x 30

Interest charged = $0.70