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Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is
Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is $260. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 23% on the account and that the billing date is August 1st. Date Transaction August 8 Made payment of $75 August 15 Charged $140 for hiking boots August 18 Charged $28 for gasoline August 25 Charged $35 for restaurant meal ]. The finance charge for the month of August is $ (Round to the nearest cent as needed.) Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is $260. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 23% on the account and that the billing date is August 1st. Date Transaction August 8 Made payment of $75 August 15 Charged $140 for hiking boots August 18 Charged $28 for gasoline August 25 Charged $35 for restaurant meal ]. The finance charge for the month of August is $ (Round to the nearest cent as needed.)
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