average daily balance interest

average daily balance interest

9th - 12th Grade

141 Qs

quiz-placeholder

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average daily balance interest

average daily balance interest

Assessment

Quiz

Mathematics

9th - 12th Grade

Practice Problem

Hard

CCSS
7.RP.A.3

Standards-aligned

Created by

Anonymous Anonymous

Used 13+ times

FREE Resource

141 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $3648.78 on a card charging 16.74% APR from 03/01/2022 to 04/20/2022. What is the interest on this debt?
83.68
85.45
85.76
83.02

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $1227.24 on a card charging 23.25% APR from 03/03/2022 to 06/01/2022. What is the interest on this debt?
70.36
73.1
67.37
69.92

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $550.15 on a card charging 11.99% APR from 03/04/2022 to 04/18/2022. What is the interest on this debt?
8.14
6.43
8.58
7.60

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $924.73 on a card charging 20% APR from 03/05/2022 to 05/30/2022. What is the interest on this debt?
43.58
41.12
44.98
41.18

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $3924.22 on a card charging 11.75% APR from 03/07/2022 to 05/20/2022. What is the interest on this debt?
93.49
94.6
90.66
91.83

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $2840.44 on a card charging 6.74% APR from 03/09/2022 to 06/01/2022. What is the interest on this debt?
44.06
44.52
46.34
44.26

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

A client carries an average daily balance of $4728.4 on a card charging 23.99% APR from 03/10/2022 to 05/09/2022. What is the interest on this debt?
186.47
189.26
188.76
187.51

Tags

CCSS.7.RP.A.3

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