Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $300. The transactions on the account for the month are given in the table to the right, Assume an annual interest rate of 20% on the account and that the billing date is August Ist. Date Transaction August 4 August 10 Charged $125 for hiking boots August 11 Charged $20 for gasoline August 31 Charged $31 for restaurant meal Made payment of $77 The finance charge for the manth of August is $695 27 (Round to the nearest cent as needed)