1. On July 17^th, the billing date, Marcus had a balance due of$3054.29 on his Capital One credit card. The transactions during the following month were:

July22Payment$100.00

July29Charge: OilChange$49.32

August 7Charge:I-Tunes$15.84

August 11 Charge: Grocery Store$38.92

August 14Charge:GasFill-Up$62.31

And the Average Daily Balance was$3091.13

(a) Calculate the finance charge to be paid on August 17^th. The card has an APR of 19.8%(Hint: The number of days in the billing cycle is 31 since July has 31 days)Finance Charge:$

(b) Find the New Balance on August 17^th.New Balance: $