8. Tommy never pays his credit card in full so he always pays a finance charge. This month, he starts with a daily balance of $900. He wants to pay his insurance payment of $1500 with his credit card this month. If he pays his insurance on the first day of the month and doesn't buy anything else for the rest of the 30-day cycle, what is his average daily balance ? *

9. Refer to #8, if Tommy's interest rate is 22.9%, what is his finance charge for the month? *

10. Refer to #8, If Tommy decided to pay his insurance on the last day of the 30 day cycle instead of the first day, what would his average daily balance be? *

11. Refer to #10, If Tommy decided to pay his insurance on the last day of the 30-day cycle instead of the first day, what would his finance charge be? *

12. Refer to #9 and #11, how much money would Tommy save by paying his insurance at the end of the month rather than the beginning? *