Question: Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual

Using the average daily balance method and the information given, find the credit card finance charge for the month of August (31 days). The annual interest rate is 18%.

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Part 1

July 31

Balance

$400

August 7

Charge

$60

August 10

Payment

$380

August 12

Charge

$103

August 13

Charge

$23

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