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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 15 percent per year and based on ADBs, including new purchases. His oustanding balance, purchases and payments are as follows:
Previous balance $386
Purchases Payments
June 4 $137 June 21 $35
June 12 $ 78
June 20 $98
June 26 $75
What is his ADB and the finance charge for the period?
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