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:

   July 22 Payment $100.00

   July 29 Charge: Oil Change $49.32

   August 7 Charge: I-Tunes $15.84

   August 11 Charge: Grocery Store $38.92

   August 14 Charge: Gas Fill-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: $