Mathematics, 14.10.2020 01:01 gorbyalexis

Michael has a credit card with an APR of 15.33%. It computes finance charges using the daily balance method and a 30-day billing cycle. On April 1st, Michael had a balance of $822.05. Sometime in April, he made a purchase of $77.19. This was the only purchase he made on this card in April, and he made no payments. If Michael’s finance charge for April was $10.71, on which day did he make the purchase? a. April 5th

b. April 10th

c. April 15th

d. April 20th

ANSWER IS: d. April 20th

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Michael has a credit card with an APR of 15.33%. It computes finance charges using the daily balance...