Question
At the end of your credit card billing cycle (March 31), you have a balance of $2,000. On April 10, you made a $1,000 payment
At the end of your credit card billing cycle (March 31), you have a balance of $2,000. On April 10, you made a $1,000 payment on the account, and on April 15, you used your card to make a purchase of $500. What is the average daily balance that will be used to calculate your finance changes for the month (rounded to the nearest dollar)?
| 1. | $1,500 |
| 2. | $1,567 |
| 3. | $1,581 |
| 4. | $1,633 |
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
