Question

Airiona pays a finance charge on her average daily balance of $1565.00. Her APR is 18%. What is her finance charge for this billing cycle?

Answer 1

her daily balance is $1565.00

Her APR is 18%

her finance charge is APR X Daily balance

Her finance charge = 18 / 100 x $1565

= 0.18 x $1565

= $281.7

Her finance charge is $281.7$