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Sagot :
Adam's balance at the end of June is $627.27
The adjusting balance method is used to determine the interest that would be paid by a credit card owner. The interest that would be paid is determined at the end of a period after all transactions have been adjusted for.
For example, if I have $100 in my credit card. If I buy a shoe worth $50 and deposit $20. My balance at the end of the month would be ($100 + $50 - $20) = $130.
Adam's balance can be determined by adding the amount he spent on purchases to the beginning balance and subtracting the payments he made.
$626.45 + $37.41 + $44.50 - $65.5 +$24.89 - $104.77 +$23.60 + $15 + $51.85 = $605.23
The balance at the end of the month would be the sum of the interest and the amount in his balance
Interest earned = balance x interest rate
Interest rate = 14.63% / 4 = 3.66%
Interest earned = $605.23 x 0.0366 = $22.14
Balance = $22.14 + $605.23 = $627.37
To learn more about the adjusting balance method, please check: https://brainly.com/question/2141275?referrer=searchResults
Answer:
C
Step-by-step explanation:
627.27. Just had it on my test
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