The table below shows the activity of Taylor’s credit card for the month of August. She started the month with a balance of $342.25, and her credit card charges 18.5% interest. Use the Average Daily Balance method to calculate her finance charges for the month of August.

Question

The table below shows the activity of Taylor’s credit card for the month of August.  She started the month with a balance of $342.25, and her credit card charges 18.5% interest.  Use the Average Daily Balance method to calculate her finance charges for the month of August.

anonymous · Answer

Activity 
Amount 
 August 5
 Payment	 $200.00
 August 15
 Charge - gas
 $26.37
 August 22
 Charge - Macy's
 $105.42
 August 25
 Charge - coffee
 $4.24