Question: 5) use the average daily balance method to compute the finance charge on the out credit card account for the month of August (31 days).

5) use the average daily balance method to compute the finance charge on the out credit card account for the month of August (31 days). The starting balance from the previous month is $180. The transactions wd on the account for the month are given in the table below. Assume an annual interest rate of 22% on the account and that the billing date is August 1st. Date: Transactions August 8 Made payment of $75 August 9 un charged $145 for hiking a bio August 18 loan Charged 23 for gasoline Lotus August 22 vita charged $30 for meal! The finance charge for the month of Albust is M round to the nearest cent as needed

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