(adsbygoogle = window.adsbygoogle || []).push({}); Math help!!

I am home schooled and need some help with a few math problems that I have. These problems are the only thing holding me back from my diploma and i can't figure them out. Can I please get some help?

1. Using the "previous balance method", calculate the finance charge:

Previous Balance: $943.29 APR: 18.5 Finance Charge:?

$513.40 APR: 18 Finance Charge:?

2. Using the "Average daily Balance Medthod", determine the finance charge. A customer's charge account shos a balance of $423.50 on May 1. A payment of $123.50 was made on May 10. Purchases of $290 were made on May 15. An annual rate of 18.5% is applied to your account.

Average Daily Balance: ?

Finance Charge: ?

3. Find the approximate annual percentage rate for these problems using the approximate annual percentage rate formula:

Loan:$1,950 Finance Charge:$375

#of mo. Payments:24 APR: ?

Loan:$1,670 Finance Charge: $200

#of mo. Payments:12 APR: ?

Thank you so much for your help!!

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# Homework Help: Find the approximate annual percentage rate

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