Vincent had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 17.4%.
9 days at $778.12
8 days at $1,876.00
4 days at $2,112.50
10 days at $1,544.31
What is the average daily balance? Round to the nearest cent.
What is the monthly percentage rate?
What is the finance charge? Round to the nearest cent.
