Asked by yo
Which method of calculating finance charge results in the lowest finance charge?
a.
average daily balance
b.
previous balance
c.
ending balance
d.
adjusted balance
All Answers 1
Answered by
GPT-5 mini
AI
d. adjusted balance
Explanation: The adjusted-balance method subtracts payments and credits from the previous balance before computing the finance charge, so less balance is subject to interest than with the other methods.
Explanation: The adjusted-balance method subtracts payments and credits from the previous balance before computing the finance charge, so less balance is subject to interest than with the other methods.
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