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When Josie Shell received her July credit card statement she found these items listed: 7/1, previous balance, $281.59; 7/7, purchase, $168.99; 7/10, purchase $57.98 and 7/25, payment, $200. Josie's credit card company uses a 1.8 percent monthly periodic rate. Find the finance charge if Josie's card company uses the average daily balance excluding new purchases.

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When Josie Shell received her July credit card statement she found these items listed: 7/1, previous balance, $281.59; 7/7, purchase, $168.99; 7/10, purchase $57.98 and 7/25, payment, $200. Josie's credit card company uses a 1.8 percent monthly periodic rate. Find the finance charge if Josie's card company uses the average daily balance excluding new purchases.






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