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%.

The finance charge is ? $

July 31	Balance	$340
August 11	Charge	$48
August 16	Payment	$230
August 23	Charge	$143
August 25	Charge	$31

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

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%. July 31 Balance ?$260...

42. 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%. July 31 The finance...

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%. ... Question content area top...

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%. The finance charge is

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

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

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

Suppose that on January 1, you have a credit card balance of $600.00. On January 10, you purchase a new Netflix subscription for $21.00. On January 12, you return an item to Bath & Body Works for a...

For SO2 at 600 K and 300 bur. determine good estimates of the fugacity and of GR/RT.

Suppose that, on the average, 1/3 of the graduating seniors at a certain college have two parents attend the graduation ceremony, another third of these seniors have one parent attend the ceremony,...

What effective annual rate can a bank earn on an APR of 10.5 percent, compounded monthly? Question 2Answer 11.02 percent 13.08 percent 11.84 percent 10.50 percent 10.76 percent

Draw a class diagram and its relationship based on the following statements. You can use any UML tool/software to represent your class diagram. Do NOT copy and paste your diagram, use the attachment...