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Chapter 6 Financial Planning Exercise 11 Calculating credit card finance charge Blake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021,
Chapter 6 Financial Planning Exercise 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 23 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows: Payments: June 21 $40 Previous Balance: $273 Purchases: June 4 $212 June 12 48 June 20 122 June 26 84 What are his ADB and finance charges for the period? (Use a table like the one in Exhibit 6.7 for your calculations.) Round the answers to the nearest cent. ADB: $ Finance charges: $
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