Step-by-step explanation:
The balance on a credit card, that charges an 18% APR interest rate, over a 1 month period is given in the following table:
Days 1-3: $150 (initial balance)
Days 4-20: $200 ($50 purchase)
Days 21-30: $50 ($150 payment)
What is the finance charge, on the average daily balance, for this card over this 1 month period?
round to the nearest hundredth
