Melody has a credit card that uses the previous balance method. the opening balance of one of her 30-day billing cycles was $0, but this was her balance for only the first 15 days of the billing cycle. she then made a purchase that increased her balance to $4800, and her balance stayed this amount for the remainder of the billing cycle. if her credit card's apr is 29%, how much was melody charged in interest for the billing cycle? a. $57.21 b. $0 c. $139.20 d. $114.41

The answer is B $0.00

Step-by-step explanation:

The answer is 0%

Step-by-step explanation:

Previous Balance Method uses the "previous" balance, that is, the balance from the month before.

Here it is given that Melody's balance at the beginning of the billing cycle is $0.

So, this means she has to pay interest on $0 (the previous month balance)

And for the rest balance, she will pay the next month.

Therefore, the answer is 0%

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step-by-step explanation:

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