Abby has a credit card which uses the adjusted balance method to compute finance charges. Her card has an APR of 11. 83%, and she is on a 30-day billing cycle. The table below shows her transactions in the month of January. Date Amount ($) Transaction 1/1 722. 10 Beginning balance 1/6 18. 12 Purchase 1/7 65. 00 Payment 1/14 18. 00 Purchase 1/20 44. 79 Purchase 1/23 34. 25 Purchase 1/27 40. 00 Payment What will Abby’s January finance charge be? a. $6. 08 b. $7. 12 c. $7. 22 d. $8. 25.
