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The average daily balance is $210.39 on a credit card with APR of 13.4% over a billing period of 30 days what will the finance charge be?
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3 votes
The average daily balance is $210.39 on a credit card with APR of 13.4% over a billing period of 30 days what will the finance charge be?

User Stewart Johnson
by
7.4k points

2 Answers

3 votes

Answer:

$2.22

Explanation:

User Jamesnvc
by
8.1k points
3 votes
principal = 210.39
APR = 13.4%
billing period = 30 days
finance charge over 30 days
= 210.39*0.134*30/365
= $2.22
User Sade
by
7.8k points
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