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In John Balfour's credit card account interest is charged on the average daily balance. The cycle begins on May 4, and the cycle ends on June 3.

The beginning balance is $288.75. A payment of $50 is posted on May 18. A charge of $16.72 is posted on May 7. A charge of $58.11 is posted on May 12.

A charge of $110.08 is posted on May 29. John is charged 1.83% per period. What is the finance charge for the cycle? The finance charge for the cycle is $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92798928

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