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On the January 25 billing date, Vivian had a balance due of $345.56 on her credit card. The transactions during the following month were: January
On the January 25 billing date, Vivian had a balance due of $345.56 on her credit card. The transactions during the following month were: January 26 Charge: curtains $331 January 27 Payment $112.20 February 16 Charge: tires $214.32 The interest rate on the card is 1% per month. Using the average daily balance method, find the finance charge on February 25 (January has 31 days). A. $6.27 B. $6.23 C. $1.92 D. $6.18
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