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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 $285.11. A payment of $50 is posted on May 18. A charge of $19.06 is posted on May 7.

A charge of $54.89 is posted on May 12. A charge of $108.19 is posted on May 29. John is charged 1.48% per period.

What is the finance charge for the cycle? The finance charge for the cycle is $. (Round to the nearest cent as needed.)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92798958

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