Balance method to calculate finance charges

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Reference no: EM13848496

A credit card company uses the average daily balance method to calculate its finance charges. Find the finance charge for the month of August (31 days) if the average daily balance for August is $658.58. The annual interest rate is 18%.

July 31



August 8



August 11



August 17



August 26



Reference no: EM13848496

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