Problem 7-7 Comparing Costs of Credit Using Three Calculation Methods [LO7-2] You have been pricing Samsung-Galaxy...

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Problem 7-7 Comparing Costs of Credit Using Three Calculation Methods [LO7-2] You have been pricing Samsung-Galaxy SmartWatch in several stores. Three stores have the identical price of $700. Each store charges 24 percent APR, has a 30-day grace period, and sends out bills on the first of the month. On further investigation, you find that store A calculates the finance charge by using the average daily balance method, store B uses the adjusted balance method, and store C using the previous balance method. Assume you purchased the SmartWatch on May 5 and made a $100 payment on June 15. What will the finance charge for June be if you made your purchase from store A? From store B? From store C? Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Finance Charge es Store A Store B Store C Problem 7-7 Comparing Costs of Credit Using Three Calculation Methods [LO7-2] You have been pricing Samsung-Galaxy SmartWatch in several stores. Three stores have the identical price of $700. Each store charges 24 percent APR, has a 30-day grace period, and sends out bills on the first of the month. On further investigation, you find that store A calculates the finance charge by using the average daily balance method, store B uses the adjusted balance method, and store C using the previous balance method. Assume you purchased the SmartWatch on May 5 and made a $100 payment on June 15. What will the finance charge for June be if you made your purchase from store A? From store B? From store C? Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Finance Charge es Store A Store B Store C