What is the APR mentioned in the example?

Exploring Average Daily Balance Concepts

Interactive Video
•
Mathematics
•
9th - 12th Grade
•
Hard

Aiden Montgomery
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
15%
20%
18%
16%
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
On which date was the first purchase made that changed the balance?
November 1st
November 3rd
November 4th
November 5th
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the balance on November 6th?
$250
$390
$265
$290
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How much was spent on November 20th?
$150
$3
$100
$2000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the balance at the end of November 23rd?
$545
$2548
$540
$2000
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What method is suggested to calculate the average daily balance?
Using a calculator manually
Asking a friend
Estimating visually
Using a spreadsheet
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the average daily balance calculated in the video?
$870.43
$873.43
$875.43
$878.43
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