Which of the following methods of determining interest are most beneficial to consumers?

Question

Quizplus · Accepted Answer

Daily average balance method is the most beneficial to consumers as interest is calculated on a daily basis and takes into account the fluctuations in the balance. This method results in lower interest charges compared to methods such as low quarterly balance or maximum balance. FIFO and LIFO are inventory costing methods and not related to determining interest.

Which of the Following Methods of Determining Interest Are Most