7
QuizMultiple Choice

Finance Charges

Question 7 • 26-27 Ignite Technical Math-Financial Math - MA2007

Which of these is not a method used to calculate finance charges?

Answer
A
adjusted balance
B
average daily balance
C
usual balance
D
previous balance

Explanation

The usual methods for calculating credit-card finance charges include the adjusted balance, average daily balance, and previous balance methods. “Usual balance” is not a standard finance-charge calculation method, so choice C is correct.

AI-written and checked against the verified answer.

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