Calculate the Monthly Finance Charge for the Credit Card Transaction

question 88

Short Answer

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.
}\\\\\text { Balance Rate Payment Method }\\\$ 4,000 \quad 25 \% \quad \$ 150 \quad \begin{array} { l } \text { Average daily } \\\text { balance }\end{array}\end{array}">$\begin{array}{l}\text { cellpadding="0" cellspacing="0" width=" } 51 \% \text { " border="0"> }\\\\\text { Balance Rate Payment Method }\\\$ 4,000 \quad 25 \% \quad \$ 150 \quad \begin{array} { l } \text { Average daily } \\\text { balance }\end{array}\end{array}$ $ __________

---

Definitions:

Gender

A social construct related to cultural differences in roles, behaviors, activities, and attributions assigned to males and females.

Alpha Block

A pharmacological blockade of alpha-adrenergic receptors, affecting blood vessels and muscles control.

Concentration

The measure of the amount of a sub-component (especially solute) contained in a solution.

Relaxation

The process of becoming less tense, stressed, or rigid, both in a physical and psychological sense.