Answer each question (#1 and 2 - 10 points each, # 3 - 4 points) 1. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. A balance of $300 at 18% with a $50 payment, find the finance charges using a) Previous balance method b) Adjusted balance method c) Average daily balance. (remember the payment is recorded at the end of the day received and the new value starts the next day) 2. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. A balance of $2000 at 15% with a $1500 payment, find the finance charges using a) Previous balance method b) Adjusted balance method c) Average daily balance. (remember the payment is recorded at the end of the day received and the new value starts the next day) 3. Explain 1 good thing about credit cards and 1 bad thing about credit cards