Solve the problem.Annette has a bank card. Her billing date is July 4. The balance due at that date was
She sent a payment of
which the bank received on July 12. She made a new purchase for
on July 31. What will the finance charge be for August 4 if the bank charges 1.25% per month and uses the average daily balance method?
A. $8.38
B. $10.88
C. $7.79
D. $7.49
Answer: C
Mathematics
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