The previous statement for your credit card had a balance of $570. You make purchases of $160 and make a payment of $70. The credit card has an APR of 24%. What is the finance charge for this month? (Round your answer to the nearest cent.
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Step-by-step explanation:
Finance Charge = APR/12 x (Previous balance - Payments + Purchases)
= 0.24/12 x (570 - 70 + 160)
= $13.20
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