purchase is $ 750. Allison ' s interest rate is 1.5 % for the month. Allison ' s bank calculates the finance charge on the credit card by using the adjusted balance method. What would Allison ' s finance charges be for the month?
$ 7.50 $ 9.00 $ 11.25 $ 13.25 $ 16.50
Question 16. 16.( TCO 3) Jerry Dean starts the month with a balance of $ 1,500 on his credit card. On the 10th day of the month, he purchases $ 200 in clothes with his credit card. On the 15th day of the month, he makes a payment on his credit card of $ 500. The average daily balance for the month including the new purchase is $ 883. The average daily balance for the month excluding the new purchase is $ 750. Jerry ' s interest rate is 1.5 % for the month. Jerry ' s bank calculates the finance charge on the credit card by using the previous balance method. What would Jerry ' s finance charges be for the month?
$ 7.50 $ 13.25 $ 15.00 $ 22.50 $ 18.00