5. Mel Arandt has a Bank of America account with a 13% annual percentage rate calculated on the average daily balance. The billing date is the first day of each month, and the billing cycle is the number of days in that month. Statement of Account Bankof America NAME DESCRIPTION OF TRANSACTIONS DATE 09/01 Previous month's balance 09/04 eBay.com 09/08 Payment 09/12 Staples 09/21 Delta Air Lines (credit) CHARGES $686.97 223.49 350.00 85.66 200.00 347.12 64.00 MEL ARRANDT ACCOUNT NUMBER 4495-5607 BILLING CYCLE 9/24 Barnes and Noble Books 09/28 Milam's Supermarket SEPTEMBER 1-30