Calculate the average daily balance, finance charge, and new balance using the average daily balance method.

Monthly rate = 1.75%

Date Payments Purchases Balance Number of Days Product/Sum

9/1 - 9/5 $387.52 5 $1,937.60

9/6 $50.00 $337.52 1 $337.52

9/7 - 9/18 $ $

9/19 $62.66 $400.18 1 $400.18

9/20 - 9/30 $ $

Total 30 $

The average daily balance = ÷ 30 = $.

Finance charge = monthly rate x average daily balance = $.

New balance = previous balance - payment/credits + finance charge + new purchases = $.