Math Question
![The balance on a credit card, that charges an \( 18 \% \) APR interest rate, over a 1 month period is given in the following table:
\( \begin{array}{lll}\text { Days 1-3: } & \$ 150 & \text { (initial balance) } \\ \text { Days 4-20: } & \$ 200 & \text { (\$50 purchase) } \\ \text { Days 21-30: } \$ 50 & (\$ 150 \text { payment) }\end{array} \)
What is the finance charge, on the average daily balance, for this card over this 1 month period?
finance charge \( =\$[?] \)
Round to the nearest hundredth.
Enter](https://d3hlidq5bf9vg0.cloudfront.net/app-server-student/2022/3/28/c19b954b-dea5-4eb7-a90a-03a8ba7b46fe.png "The balance on a credit card, that charges an \( 18 \% \) APR interest rate, over a 1 month period is given in the following table:
\( \begin{array}{lll}\text { Days 1-3: } & \$ 150 & \text { (initial balance) } \\ \text { Days 4-20: } & \$ 200 & \text { (\$50 purchase) } \\ \text { Days 21-30: } \$ 50 & (\$ 150 \text { payment) }\end{array} \)
What is the finance charge, on the average daily balance, for this card over this 1 month period?
finance charge \( =\$[?] \)
Round to the nearest hundredth.
Enter")
Solution
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