Question 12 • FowU - Financial Math - B
The daily rate is 15.33% ÷ 365. With no payments, the balance is $822.05 before the purchase and $899.24 after it. If the purchase is included in the daily balance on the day it is made, an April 20 purchase gives 19 days at $822.05 and 11 days at $899.24. The resulting finance charge is about $10.71, so the correct choice is April 20th.
AI-written and checked against the verified answer.