Let us calculate your finance charges. How much money are you paying for buying things on credit. Let us do this exercise. Let us assume that you started the month with a balance of $1,100 on your credit card. On the 10th of the month you make a purchase for $200 on credit. On the 15th, you make a $500 payment and you have an average daily balance of $883 on the card. The average daily balance for the month excluding new purchase is $750. Your monthly interest rate is 1.5%. Using the adjustable balance method, what is your finance charge for the month?