Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual interest rate is 18%.
The finance charge is ? $
July 31 |
Balance |
$340 |
August 11 |
Charge |
$48 |
August 16 |
Payment |
$230 |
August 23 |
Charge |
$143 |
August 25 |
Charge |
$31 |
Get Answers For Free
Most questions answered within 1 hours.