Dallas Pierce's most recent credit card statement follows. Her finance charge is 18% APR. Calculate Dallas's average daily balance, finance charge, and new balance. Note: Round your final answers to the nearest cent. 30-day billing cycle 9/2 9/7 Billing date Payment $ 1,090 Previous balance 9/13 Charge: Kohl's 9/17 Payment $ 300 $ 450 300 Credit Credit 9/28 Charge: WalMart 105 Average daily balance Finance charge New balance

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Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.