Question: 2. The table below shows the transactions with a credit card charging interest monthly. Date Spending Repayment 2 nd March $2,000 4 th March $3,500

2. The table below shows the transactions with a credit card charging interest monthly.

Date	Spending	Repayment
2^nd March	$2,000
4^th March	$3,500
7^th March		$2,000
14^th March		$200

Assuming that interest is the only finance charge, and the interest is calculated by the Average Daily Balance method and the interest rate is 24% per annum, what is the finance charge for March (correct to 2 decimal places)?

(10 marks)

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