Calculate the average daily balance, finance charge, and new balance using the average daily balance method. monthly rate = 1.75% date payments purchases balance number of days product/sum 9/1 - 9/5 $387.52 5 $1,937.60 9/6 $50.00 $337.52 1 $337.52 9/7 - 9/18 $ $ 9/19 $62.66 $400.18 1 $400.18 9/20 - 9/30 $ $ total 30 $ the average daily balance = ÷ 30 = $. finance charge = monthly rate x average daily balance = $. new balance = previous balance - payment/credits + finance charge + new purchases = $.