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11. Calculating credit card finance charge. Blake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the
11. Calculating credit card finance charge. Blake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 15 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows: $386 Previous Balance: Purchases: June 4 June 12 June 20 June 26 Payments June 21 $35 $137 78 98 75 What are his ADB and finance charges for the period? (Use a table like the one in Exhibit 6.7 for your calculations.)
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