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Farruko starts the month with a balance on his credit card of $1,150. On the 10th day of the month, he purchases $260 in clothes
Farruko starts the month with a balance on his credit card of $1,150. On the 10th day of the month, he purchases $260 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $750. The bank charges 1.5 percent interest per month using the adjusted balance method (and excludes new purchases). What would Farruko's finance charges be for the month?
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