Use of Financial Calculator TI BA II Plus Required

Multiple Choice

Use of Financial Calculator TI BA II Plus required. Your credit card had balances of $800 for 13 days, $600 for 5 days, and $650 for 12 days. At an effective rate of 1.5 percent interest per month (30 days) how much is the interest charge using the average balance method?

A) $9.40
B) $7.06
C) $30.75
D) $10.60