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On July 17th, the billing date, Marcus had a balance due of $3054.29 on his Capital One credit card. The transactions during the following month
On July 17th, the billing date, Marcus had a balance due of $3054.29 on his Capital One credit card. The transactions during the following month were: July 22 Payment $100.00 July 29 Charge: Oil Change $49.32 August 7 Charge: I-Tunes $15.84 August 11 Charge: Grocery Store $38.92 August 14 Charge: Gas Fill-Up $62.31 And the Average Daily Balance was $3091.13 (a) Calculate the finance charge to be paid on August 17th. The card has an APR of 19.8% (Hint: The number of days in the billing cycle is 31 since July has 31 days) Finance Charge: $ (b) Find the New Balance on August 17th. New Balance: $
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