Solve the Problem The Interest Rate on the Card Is 1

Multiple Choice

Solve the problem.
-On the September 1 billing date, Martin had a balance due of $991.93 on his credit card. The Transactions during the following month were: $\begin{array}{llcc} \text {September 3 } \text {Payment }&\$92.95 \\ \text { September 9} \text { Charge: airline ticket } &\$505.27\\ \text { September 22 } \text { Charge: shoes } &\$71.36\\ \text { September 29 } \text { Charge: garden tiller} &\$210.16\\\end{array}$

The interest rate on the card is 1.4% per month. Using the average daily balance method, find the Finance charge on October 1 (September has 30 days) .

A) $18.12
B) $22.03
C) $18.36
D) $18.52