Essay
A credit card statement showed these transactions during June. ![A credit card statement showed these transactions during June. The credit card has an interest rate of 19.5% on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on July 1. [Hint: Remember that June has 30 days.]](https://d2lvgg3v3hfg70.cloudfront.net/TB8446/11ebb939_4a32_0b7d_9e6c_e16bccc2a191_TB8446_00.jpg)
The credit card has an interest rate of 19.5% on the average daily balance. Find the average daily
balance, the finance charge for the month, and the new balance on July 1. [Hint: Remember that
June has 30 days.]
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Correct Answer:
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