Question: Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use

Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use a 365-day year Month: May (31 days) Previous month's balance: $960 Interest rate: 18% Date Transaction May 3 made payment of $380 May 12 purchase of $105 May 21 purchase of $95 May 29 made payment of $65 OA. $10.70 B. $7.45 OC. $8.28 OP. $11.66

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