Question

On the December 8 billing date, Hakeem had a balance due of $617.91 on his credit...

On the December 8 billing date, Hakeem had a balance due of $617.91 on his credit card. The transactions during the following month were:

December 10 Charge: football tickets $170.24
December 12 Payment: $93.12
January 3 Charge: restaurant meal $53.36

The interest rate on the card is 16% per month. Using the average daily balance method, find the finance charge and the balance due on January 8

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