Average daily balance method to calculate finance charges

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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 ?$621.03. The annual interest rate is? 18%. ?(Round to the nearest ?cent.)

July 31 Balance ?$550

August 7th Charge ?$36

August 11 Payment ?$60

August 17 Charge ?$142

August 23 Charge ?$48

Reference no: EM131072728

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