Use the average daily balance method to compute the finance

Last updated: 10/4/2023

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 290 The transactions on the account for the month are given in the table to the right Assume an annual interest rate of 25 on the account and that the billing date is August 1st The finance charge for the month of August is Round to the nearest cent as needed BICECH Date August 3 August 4 August 20 August 24 Made payment of 82 Charged 150 for hiking boots Transaction Charged 20 for gasoline Charged 35 for restaurant meal