Adam’s credit card calculates finance charges using the adjusted balance method and a 30-day billing cycle. The table below shows his use of that credit card over three months. Date
Amount ($)
Transaction
4/1
626.45
Beginning balance
4/10
37.41
Purchase
4/12
44.50
Purchase
5/3
65.50
Payment
5/16
24.89
Purchase
5/20
104.77
Payment
6/6
23.60
Payment
6/10
15.00
Purchase
6/14
51.85
Purchase

If Adam’s credit card has an APR of 14.63%, what is Adam’s balance at the end of June?
a.
$629.42
b.
$629.66
c.
$627.27
d.
$628.40