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(18 pts) 3.) The Chase Sapphire card charges 2.33% monthly on remaining balances (source: https://creditcards.chase.com/rewards-credit-cards/sapphire/preferred) They use the average daily balance method to determine interest.
(18 pts) 3.) The Chase Sapphire card charges 2.33% monthly on remaining balances (source: https://creditcards.chase.com/rewards-credit-cards/sapphire/preferred) They use the average daily balance method to determine interest. Given Xavier's credit card activity, determine the following: Previous Balance $845 November 6 Billing Date November 14 Sky Diving $215 November 19 Hospital bill $530 November 28 Payment $650 Date Running Balance Number of Days Until Balance Changed (Running Balance) x (Number of Days) Totals: (a) The average daily balance for the next billing (December 6). (b) The finance charge to appear on the December 6 billing, and (c) The account balance on December 6
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