Gregory has a credit card with a 30-day billing cycle and an APR of 11.95%. The following table shows Gregory’s credit card transactions for the month of April.

Date
Amount ($)
Transaction
4/1
622.82
Beginning balance
4/4
45.45
Payment
4/10
78.91
Purchase
4/25
16.36
Purchase

Between the adjusted balance method and the daily balance method, which method of computing Gregory’s April finance charge will result in a greater finance charge, and how much greater will it be?
a.
The daily balance method will have a finance charge $0.09 greater than the adjusted balance method.
b.
The daily balance method will have a finance charge $0.54 greater than the adjusted balance method.
c.
The adjusted balance method will have a finance charge $1.40 greater than the daily balance method.
d.
The adjusted balance method will have a finance charge $0.86 greater than the daily balance method.