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A credit card statement showed these transactions during October. October 1 Previous balance $415.47 October 7 Purchases $96.42 October 16 Payment $110.00 The credit card

A credit card statement showed these transactions during October. October 1 Previous balance $415.47 October 7 Purchases $96.42 October 16 Payment $110.00 The credit card has an interest rate of 12.5 % on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on November 1. [Hint: Remember that October has 31 days.

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