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Joel Bastos recently received his monthly MasterCard bill for the period June 1-30, 2015, and wants to verify the monthly finance charge calculation, which is
Joel Bastos recently received his monthly MasterCard bill for the period June 1-30, 2015, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 18% per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows:
- Previous balance:$376Purchases:Payments:June 4$140June 21$25June 12$52June 20$135June 26$86What is his ADB for the period? (Use a table like the one inExhibit 6.8for your calculations.) Round the answer to 2 decimal places
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