Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions for the month of april are given. Assume an annual interest rate of 15%.
April-30 days (prvious months balance $430)
4/7- charged $80
4/17- made payment of 160
4/23-charged $194
4/27- charged $16
What is the finance charge?
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