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.
Date
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

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.
Date
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

anonymous · Answer

multiply each term by 1.185 then substract 342.25 by them.