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To calculate the finance charge on Daniyar's May statement, given the following information:

- **Average Daily Balance** = $270.31
- **Monthly Periodic Rate** = 1.65%

We can use the formula for the finance charge, which is:

\[
\text{Finance Charge} = \text{Average Daily Balance} \times \text{Monthly Periodic Rate}
\]

### Steps:
1. Convert the monthly periodic rate from a percentage to a decimal by dividing by 100:
   \[
   1.65\% = \frac{1.65}{100} = 0.0165
   \]

2. Multiply the average daily balance by the monthly periodic rate:
   \[
   \text{Finance Charge} = 270.31 \times 0.0165
   \]

3. Calculating this gives:
   \[
   \text{Finance Charge} = 4.46
   \]

So, the finance charge on Daniyar's May statement is **$4.46**.

Would you like more details on this calculation or have any further questions?

Here are five related questions for further practice:
1. How would the finance charge change if the average daily balance were $350?
2. What would the finance charge be if the monthly periodic rate increased to 2%?
3. How does the average daily balance impact the finance charge?
4. Can you calculate the finance charge for a different month with a balance of $150.50 and a rate of 1.75%?
5. What is the effect of paying off a balance in full on the finance charge?

**Tip:** Always double-check the periodic rate's format (monthly, daily, annual) to ensure the correct conversion.

Daniyar paid his April FlashCard bill in full. His May bill shows an average daily balance of $270.31 and a monthly periodic rate of 1.65%. What is the finance charge on Daniyar's May statement?

Learn how to calculate the finance charge on a credit card statement given an average daily balance of $270.31 and a monthly periodic rate of 1.65%. This example provides a detailed breakdown of the formula and steps involved in calculating the finance charge. Suitable for high school students.

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