Parker Young recently received his monthly MasterCard bill for the period June 1-30, 2015, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 15 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows:

Previous Balance: $386

Purchases:

June 4 ........................$137

June 12 ........................78

June 20........................98

June 26........................75

Payments:

June 21 ........................$35

What is his ADB and the finance charge for the period? (Use a table like the one in Exhibit

6.8 for your calculations.)