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lake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the monthly finance charge calculation, which is
lake Miller recently received his monthly MasterCard bill for the period June 1-30, 2021, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 12 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows:
Previous Balance: | $368 | ||||
Purchases: | Payments: | ||||
June 4 | $106 | June 21 | $45 | ||
June 12 | $67 | ||||
June 20 | $108 | ||||
June 26 | $72 |
What are his ADB and finance charges for the period? (Use a table like the one in Exhibit 6.7 for your calculations.) Round the answers to the nearest cent.
ADB: $
Finance charges: $
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