Use average daily balance to compute the finance charge on a credit card ccount for month of august (31 days). Thstarting balance for previous month was 240. Assume annual interest rate of 24 % and that the billing date is august 1st.
Transaction chart
8/6 payment of $84
8/13 charged $140
8/17 charged $21
8/25 charged $31
what is the finance charge for the month of august?
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