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On November 1 , Sharon s credit card has a balance of $ 5 , 6 2 6 . 2 5 . According to the

On November 1, Sharons credit card has a balance of $5,626.25. According to the terms of the cards lending agreement, an interest rate of 18% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB) including purchases method.
During the month, Sharon expects to make the purchases listed below and will make a payment of $421.97 on November 25, and has collected the following additional information:
Date
Purchases
November 5 $1,835.95
November 1555.6
November 1963.1
November 27447.77
Additional Information
Monthly interest rate 1.50%
Beginning card balance $5,626.25
Days in the month 30
Use the following table to help Sharon estimate her monthly interest charge for November.
Dates
Number of Days
Daily Balance
Calculated Value
11/2-11/54 $5,626.25
$
11/6-11/1510
11/16-11/194
11/20-11/256
11/26-11/272
11/28-11/14
$
Total 30
Average Daily Balance With Purchases
$
Finance Charge
$

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