Situation #2: Credit Card Bills Show all work, even the work you put into the calculator. The majority of points given will be for your work, not for the answer Assume you open a credit card at the beginning of the year: January 1t, with an opening balance of $0.00. The annual interest rate on the card is 18%, and your bill is due each month. Starting in January the following charges and credits occur on your account: Date Credit Charge $45- Gas January 5 January 9 January 13 January 14 January 18 January 25 January 27 January 29 February 2 February 6 February 9 February 14 February 17 February 22 February 23 February 26 February 28 $115-Clothes $85-Groceries $65-Return clothes $11-Lunch $32-Gas $127-Boots $200-Payment $38-Gas $58-Groceries $199- Car Insurance $75-B day Money $28-Gas $6-Lunch $35-Dinner& Movie $78-Groceries $150-Payment Compare what your Finance Charge will be for the month of March using the Average Daily Balance Method and the Unpaid Balance Method. Assume the year is not leap year. *Also assume the only things you charged/paid are listed above. 80 Situation #2: Credit Card Bills Show all work, even the work you put into the calculator. The majority of points given will be for your work, not for the answer Assume you open a credit card at the beginning of the year: January 1t, with an opening balance of $0.00. The annual interest rate on the card is 18%, and your bill is due each month. Starting in January the following charges and credits occur on your account: Date Credit Charge $45- Gas January 5 January 9 January 13 January 14 January 18 January 25 January 27 January 29 February 2 February 6 February 9 February 14 February 17 February 22 February 23 February 26 February 28 $115-Clothes $85-Groceries $65-Return clothes $11-Lunch $32-Gas $127-Boots $200-Payment $38-Gas $58-Groceries $199- Car Insurance $75-B day Money $28-Gas $6-Lunch $35-Dinner& Movie $78-Groceries $150-Payment Compare what your Finance Charge will be for the month of March using the Average Daily Balance Method and the Unpaid Balance Method. Assume the year is not leap year. *Also assume the only things you charged/paid are listed above. 80