The opening balance of one of the 31-day billing cycles for lorenzo's credit card was $4100, but after 15 days lorenzo made a payment of $2300 to decrease his balance, and it stayed the same for the remainder of the billing cycle. if his credit card's apr is 24%, how much more in interest would he pay for the billing cycle with the previous balance method than with the adjusted balance method?
a.$120.26
b.$83.57
c.$36.69
d.$46.88

D.$46.88

Step-by-step explanation:

adjusted balance method

The interest under the adjusted balnace method are calcualte aftert all the transactions for the month are posted.

beginning balance less payment equal ending balance

4,100 - 2,300 = 1,800

now we use that value to calcualte the interest:

principal x rate x time = interest

1,800 x 0.24 x 31/365 = 36.69

interest with 31-days billing cycle: we do not consider the payment until the next billying cycle

4,100 x 0.24 x 31/365 = 83.57

difference: 83.57 - 36.69 = 46.88

As calculated it would pay $46.88 more with this method.

answer:

it is general formula that is used to write value to its excet position

a11 a12 a13

a21 a22 a23

it is the example of order 2 by 3 matrix in this

a11 means value occur in 1 st row 1st column

a12 means value occurs in 1st row 2nd column

a13 means value occur in 1st row and 3rd column

a21 means value occurs in 2nd row and 1st column

a22 means value occurs in 2nd row and in 2nd column

a23 means value occurs in 2nd row and in 3rd column

ummm seems that u didnt post the attachement !