Suppose that on December1 you have a credit card balance of $560.00. On December 10, you make
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Question:
Suppose that on December1
you have a credit card balance of
$560.00. On December
10, you make an Amazon purchase of
$10.00. On December
15, you make another purchase of
$82.00 at the bookstore. On December
20, you make a payment of
$450.00. The annual interest rate on your credit card is
30%. Calculate the finance charge for December that will appear on the next month's statement using the Average Daily Balance Method (
31 days in December). Round your final answer to the nearest cent.
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