Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Round your answer to the nearest cent.
$\begin{array}{l}
\text { cellpadding="0" cellspacing="0" width=" } 63 \% \text { " border="0" }\\
\text { Balance Rate Payment Method }\
\$ 100 \quad 10 \% \quad \$ 400 \quad \begin{array} { l }
\text { Average daily } \
\text { balance }
\end{array}
\end{array}$ $ __________

Question

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Round your answer to the nearest cent. 
 $\begin{array}{l}
\text { cellpadding="0" cellspacing="0" width=" } 63 \% \text { " border="0"> }\\
\text { Balance Rate Payment Method }\
\$ 100 \quad 10 \% \quad \$ 400 \quad \begin{array} { l } 
\text { Average daily } \
\text { balance }
\end{array}
\end{array}$ $ __________

Quizplus · Accepted Answer

The Answer of Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Round your answer to the nearest cent. 
 $\begin{array}{l}
\text { cellpadding="0" cellspacing="0" width=" } 63 \% \text { " border="0"> }\\
\text { Balance Rate Payment Method }\
\$ 100 \quad 10 \% \quad \$ 400 \quad \begin{array} { l } 
\text { Average daily } \
\text { balance }
\end{array}
\end{array}$ $ __________

Calculate the Monthly Finance Charge for the Credit Card Transaction