To find the finance charge for the given charge account using the average daily balance method, follow these steps:
1. Identify the average daily balance: According to the provided information, the average daily balance is [tex]$418.37.
2. Identify the monthly interest rate: The monthly interest rate given is 1.44%.
3. Convert the monthly interest rate from a percentage to a decimal: To do this, divide the percentage by 100.
\[
\text{Monthly Interest Rate (decimal)} = \frac{1.44}{100} = 0.0144
\]
4. Calculate the finance charge: Multiply the average daily balance by the monthly interest rate in decimal form.
\[
\text{Finance Charge} = 418.37 \times 0.0144 = 6.024528
\]
5. Round the finance charge to the nearest cent: Since the finance charge should be expressed in dollars and cents, round 6.024528 to two decimal places.
\[
\text{Finance Charge (rounded)} = 6.02
\]
Therefore, the finance charge for the given charge account is $[/tex]6.02.
[tex]\[
\boxed{6.02}
\][/tex]
