To minimize finance charges calculated by the daily balance method, when in the billing cycle is it best to make purchases and payments?

a.
Both purchases and payments should be made early in the billing cycle.
b.
Both purchases and payments should be made late in the billing cycle.
c.
Payments should be made early in the billing cycle, and purchases should be made late in the billing cycle.
d.
Purchases should be made early in the billing cycle, and payments should be made late in the billing cycle.

To effectively minimize finance charges calculated by the daily balance method, Payments should be made early in the billing cycle, and purchases should be made late in the billing cycle.

What is a Payment?

Payment is a voluntary tender of money or its equivalent for an exchange for the value of an item. It is the process of remitting money to someone for a good or service.

When minimizing finance charges calculated by the daily balance method, especially in the billing cycle, it is important payments are made early in the early billing cycle and purchases made late in the cycle.

Learn more about Payments here:

https://brainly.com/question/25599836