5. Mel Arrandt 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 Bank of America. NAME DATE DESCRIPTION OF TRANSACTIONS CHARGES MEL ARRANDT 09/01 Previous month's balance $686.97 ACCOUNT NUMBER 09/04 eBay.com 223.49 4495-5607 09/08 Payment 350.00 09/12 Staples 85.66 BILLING CYCLE 09/21 Delta Air Lines (credit) 200.00 SEPTEMBER 1-30 09/24 Barnes and Noble Books 347.12 09/28 Milam's Supermarket 64.00