Solve for the monthly finance charge if the average daily balance is $20, the daily periodic rate is 0.05%, and the number of days in the cycle is 30.
a.) 30¢
b.) 31¢
c.) 50¢

Monthly finance charge would be 30 cents.

Step-by-step explanation:

To solve the problem, we must find out daily finance charge and then multiply with 30 to get monthly finance charge as monthly cycle number is 30.

It is given :

Average daily balance = $20.00

Daily periodic rate     = 0.05%

to get daily finance charge 0.05% of 20 = 0.0005 × 20 = $0.01

Number of days in the cycle = 30 days

Monthly finance charge = $0.01 × 30 = $0.30 or 30 cents

Answer is A. 30 cents.

the correct answer is b) histograms can be used to exhibit the shape of distributions. this is because histograms count the frequency of each possible answer, so one is able to see which results are more common and which are less common.