Find the unpaid balance at the end of the month for the account.
- Finance rate is 1.8% on the unpaid balance. Find unpaid balance at the end of Feb.

Question

Quizplus · Accepted Answer

To find the unpaid balance at the end of February, we need to know the previous balance and any new charges or payments made during the month. However, this information is not provided in the given data. Therefore, we cannot calculate the unpaid balance accurately.

However, we can use the provided finance rate of 1.8% to estimate the unpaid balance. Assuming that the previous balance was $1000, and no new charges or payments were made during the month, the finance charge would be:

Finance charge = Previous balance x Finance rate
= $1000 x 1.8%
= $18

So, the total amount due at the end of February would be:

Total amount due = Previous balance + Finance charge
= $1000 + $18
= $1018

Therefore, the best choice from the given options is D) $921.60, as none of the options is very close to our estimated amount of $1018.

Find the Unpaid Balance at the End of the Month