The balance on Kathy's credit

timer Asked: Oct 30th, 2015

Question description

The balance on Kathy's credit card on May 12, the billing date, was $378.50. For the period ending June 12, there were the following transactions.  

May 13 Charge: Toys $129.79

May 15 Payment $50.00

June 1 Charge: Clothing $135.85

June 8 Charge: Housewares $37.63

Find the finance charge to be paid on June 12. Assume an interest rate of 1.3% per month

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