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Marys credit card account interest is charged on the

Question - Marys credit card account interest is charged on the average daily balance. The cycle begins on May 4, and the cycle ends on June 3. The beginning balance is $ 281.64.

$281.64. A payment of $200

200 is posted on May 18. A charge of $17.83

17.83 is posted on May 7. A charge of $52.21

52.21 is posted on May 12. A charge of $105.97

105.97 is posted on May 29. John is charged 1.31

1.31% per period.

What is the finance charge for the cycle?

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Accounting Basics: Marys credit card account interest is charged on the

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