Question: 2 Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The

 2 Use the average daily balance method to compute the finance

2 Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $240. The transactions on the account for the month are given in the table to the night. Assume an annual interest rate of 20% on the account forme month are given and that the biling date is August 1st Date Transaction August 4 Made payment of $88 August 15 Charged 5150 for hiking boots August 21 Charged $25 for gasoline August 25 Charged $34 for restaurant meal The finance charge for the month of Augusti (Round to the nearest cent as needed) Enter your answer in the answer box o e os e

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