Find the average daily balance for the following credit card account. Assume one month between billing dates. Find the finance charge if the annual interest rate is 22.32%. Find the new balance for the next months statement.

Date Activity Balance Compute

July 11 Balance from previous

statement $512.78

July 19 Returns $136.45

July 21 Boscovs $135.73

July 27 Car rental $174.19

August 4 Payment $115.00

August 6 Gasoline $ 42.65

Average daily balance Finance charge New balance for

next billing period