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Henry Garrison starts the month with a balance on his credit card of $1,190. The average daily balance for the month including purchase is $857.
Henry Garrison starts the month with a balance on his credit card of $1,190. The average daily balance for the month including purchase is $857. The average daily balance for the month excluding new purchase is $755. The bank charges 1.5 percent per month and uses the average daily balance including new purchases method. What would Henry's finance charges be for the month?
Multiple Choice
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$12.85
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$11.33
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$21.00
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$17.85
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$10.35
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