Regina pays her credit card balance in full each month.Last month her average daily balance was $345 and the APR is 11.2%.The finance charge on her current month's statement is $13.22.

Since Regina pays her credit card balance in full each month, she would not incur a finance charge on her current month's statement, assuming her credit card offers a grace period on purchases, which most credit cards do. The finance charge calculation provided seems to ignore the fact that paying in full typically avoids such charges.