Final answer:
The provided information does not include enough details to calculate the monthly finance charge for a credit card. Charges depend on balance, APR, and billing cycle days. An example calculation shows a late payment leading to $60 in fees.
Step-by-step explanation:
The information provided does not include the specific numbers necessary to calculate the monthly finance charge for the credit card transaction. Credit card finance charges typically depend on the outstanding balance, the annual percentage rate (APR), and the number of days in the billing cycle. While the information mentions fees for late payments, it does not provide enough data to calculate a monthly finance charge. However, we know that under certain circumstances, like a late payment, a credit card company charges $10 immediately plus $5 per day until the payment is made.
For example, if a payment is 10 days late, the charge would be $10 (initial late fee) + $5/day * 10 days (daily late fee) = $10 + $50 = $60 in late fees alone, excluding any interest charges that may also apply to the balance.