Ryan Gray, a student at State College, has a balance of $330 on his retail charge card; if the store levies a finance charge of 22% per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Do not round intermediate calculations. Round the answer to 2 decimal places

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
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ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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Chapter6: Using Credit
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Ryan Gray, a student at State College, has a balance of $330 on his retail charge card; if the store levies a finance charge of 22% per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Do not round intermediate calculations. Round the answer to 2 decimal places

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