Mathematics College

Ruth's credit card has an APR of 10,91%, and it computes finance charges using the previous balance method on a
30-day billing cycle. During the April billing cycle, she made a $45.17 payment on April 10th and a $88.34 purchase on
April 17th. Her total at the start of May was $847.64. What was her balance at the beginning of April?
a $890.91
b. $797.22
C.$796.87
d. $804.47
Please select the best answer from the choices provided

Answers

Answer 1

Answer:

It's B trust

Step-by-step explanation:

Answer 2

The required balance at the beginning of April is $796.87. Option C is correct.

What is interest?

Simple interest is defined as the percentage of earnings on the lending for a period of time

To determine Ruth's balance at the beginning of April, we can work backward from her total at the start of May.

Let's call Ruth's balance at the beginning of May "B".

We know that during the April billing cycle:

She made a $45.17 payment on April 10th

She made a $88.34 purchase on April 17th

The APR is 10.91%

So, B = B - $45.17 - $88.34 + (B * 0.1091 * 30 / 365)

Solving for B, we get:

B = $796.87

So, the answer is C. $796.87.

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