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Consider the credit card statement below. The monthly interest rate is 4.5%, the first day of the billing cycle is February 1st and the last
Consider the credit card statement below. The monthly interest rate is 4.5%, the first day of the billing cycle is February 1st and the last day is February 28th. The balance at the start of the billing cycle was $745.00. Find the average daily balance, the finance charge, and the next cycle's balance. Date Feb. 8 Feb. 12 Feb. 23 Description Return Charge: Food Charge: Movies Amount $98.04 $35.38 $49.06 ROUND YOUR ANSWER TO THE NEAREST CENT!!! DO NOT USE COMMAS!!! The average daily balance (ADB) is $ The finance charge is $ The balance for the next billing cycle is $
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