Randy Ice Starts the Month with a Balance on His

Multiple Choice

Randy Ice starts the month with a balance on his credit card of $800.On the 10th day of the month,he purchases $200 in clothes with his credit card.On the 15th day of the month he makes a payment on his credit card of $300.The average daily balance for the month including the new purchase is $683.The average daily balance for the month excluding the new purchase is $550.The bank charges 1.5 percent per month and uses the average daily balance excluding new purchases method.What would Randy's finance charges be for the month?

A) $4.50
B) $7.50
C) $8.25
D) $10.25
E) $12.00