## (solution) Abby has a credit card which uses the adjusted balance method to

Abby has a credit card which uses the adjusted balance method to compute finace charges. Her card has an APR of 11.83% and she is on a 30 day billing cycle. The table below shows her transactions in the month of January.

 Date Amounts (\$) Transaction 1/1 \$722.1o Beginning Balance 1/6 \$18.12 Purchase 1/7 \$65.00 Payment 1/14 \$18.00 Purchase 1/20 \$44.79 Purchase 1/23 \$34.24 Purchase 1/27 \$40.00 Payment
What will Abby's finace charge be?
A.) \$6.08
B.) \$7.12
C.) \$7.22
D.) \$8.25

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