1. Tom Jones has a revolving credit account with an annual percentage rate of 18%. Toms balance at the end of July was $728.15. The activity for the month was recorded: August 10, a purchase of $136.19 August 15, a payment of $292 August 23, a purchase of $386.78.The billing date is the first day of the month and the billing cycle is the number of days in that month. Determine the average daily balance for August? Round to the nearest cent.2. Alice purchased a truck for a cash price of $24,900. She made a 15.5% down payment and financed the balance with payments of $395.47 per month for 60 months. Determine the finance charge amount? 3. Jane Windsor financed a $5,900 ski boat with a 12% add-on interest installment loan for 12 months. Given the loan required a 10% down payment, determine the following:The amount of the finance charge?The amount of the finance charge rebate if the loan were to be paid after the 10th payment?
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