On the May 1 billing date, Mary had a balance due of $970.60 on her credit card. The transactions during the following month were:
May 5 Payment $400.00
May 10 Charge: airline tickets $381.00
May 22 Charge: hotel $270.60
May 25 Charge: florist $60.20
The interest rate on the card is 1.2% per month. Using the average daily balance method, find the finance charge and balance due on June 1.
Using the Table format
1 2 3 4 5 6
DATE CHARGE PAYMENT BAL. #.OF DAYS BAL*
BALANCE # of
DOES NOT Days
CHANGE
Totals :