Roger has a credit card with an APR of 19.40% and a billing cycle of 30 days. The following table shows his transactions with
that credit card in the month of June.
Date
6/1
6/6
6/16
6/22
Amount (5) Transaction
265.40 Beginning balance
90.00 Payment
43.33 Purchase
37.71 Purchase
If Roger's finance charge for June is $3.56, which method of calculating the finance charge does Roger's credit card company
use?
a daily balance method
b. adjusted balance method
previous balance method
d. there is not enough information to determine which method was used
C.