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A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. Here are some of the
A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. Here are some of the details in the June 1-June 30 itemized billing: June 1 Unpaid Balance: $450.42 Payment Received June 14: $135 Purchases Charged to the Account: $266.89 Average Daily Balance: $373.92 Last Day of the Billing Period: June 30 Payment Due Date: July 9 Click the icon to view the table. a. Find the interest due on the payment due date. b. Find the total balance owed on the last day of the billing period. c. Minimum payment terms are shown in the accompanying table. What is the minimum payment due by July 9? A. a. $6.05 b. $689.34 3. $58.83 OC. a. $5.79 h 4221 21 B. a. $5.98 b. $588.29 c. $58.83 D. a. $6.05 h $215 42
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