Question: Solve the problem. 14) On the July 5 billing date, David had a balance due of $946.77 on his credit card. The transactions during the

Solve the problem.

14) On the July 5 billing date, David had a balance due of $946.77 on his credit card. The transactions during the following month were: July 6 Payment $287.06

July 19 Charge: auto repair $363

August 1 Charge: clothing $128.22

The interest rate on the card is 1% per month. Using the average daily balance method, find the finance charge on August 5 (July has 31 days).

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