brisal stou Sopot indd Practice and Application Exercises hom w bo bo Exercises 1 involve credit cards that calculate interest using the average daily balance method. The monthly interest rate is 15% of the average daily balance. Each exercise shows transactions that occurred during the March 1-March 31 billing period. In each exercise, 103199 359 yd bewo X5 9mooniadt 9t6luglso of bebivog 9 a. Find the average daily balance for the billing period. Round to the nearest cent. b. Find the interest to be paid on April 1, the next billing date. Round to the nearest cent. c. Find the balance due on April 1. d. This credit card requires a $10 minimum monthly payment if the balance due at the end of the billing period is less than $360. Otherwise, the minimum monthly payment is of the balance due at the end of the billing period, rounded up to the nearest whole dollar. What is the minimum monthly payment due by April 9? nouudi 1. Transaction Description Transaction Amount Previous balance, S6240.00 March 1 Billing date March 5 Payment $ 300 credit March 7 Charge: Restaurant $ 40 March 12 Charge: Groceries $ 90 March 21 Charge: Car Repairs $ 230 March 31 End of billing period Payment Due Date: April 9 2. s