Freida's credit card has an APR of 13.73%, and it calculates her finance charge by using the daily balance method and a 30-day billing cycle. On September 1st, Freida had a balance of $449.22. During the month of September, she made a payment of $85.33 and a purchase of $60.99. How much greater will her September finance charge be if the purchase occurred on September 7th and the payment occurred on September 20th than it would be if the payment occurred on September 7th and the purchase occurred on September 20th?

a.

$0.13

b.

$0.41

c.

$0.72

d.

$0.28

Taking the daily interest rate: 0.1373 / 360 = 0.00038

Initial balance = $449.22

Payment = $85.33

Purchase = $60.99

If Purchase (Sept 7) & Payment (September 20):

F (Purchase) = 60.99 (1+0.00038) ^23

F (Purchase) = 61.53

F (Payment) = 85.33 (1+0.00038) ^10

F (Payment) = 85.65

Finance charge = 85.65 + 61.53 = 147.18

If Purchase (Sept 20) & Payment (September 7):

F (Purchase) = 60.99 (1+0.00038) ^10

F (Purchase) = 61.22

F (Payment) = 85.33 (1+0.00038) ^23

F (Payment) = 86.08

Finance charge = 61.22 + 86.08 = 147.3

Subtracting the two finance charges:

147.3 - 147.18 = 0.12

Therefore, the answer would be $0.12. Among the choices, choice A would be the nearest answer.