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Terry only made the minimum required payment on his credit card in May.Thus he started the next 30-day billing period (June 1) with a balance

Terry only made the minimum required payment on his credit card in May.Thus he started the next 30-day billing period (June 1) with a balance of $720.Terry used his credit card to pay for repairs on his car on June 10 for $1,500, and sent in another payment of $1,000 on June 25.His annual interest rate is 23%, compounded daily.How much interest will he be charged for the month of June?

  1. $361.00
  2. $207.15
  3. $43.73
  4. $29.68

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