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CONSUMER MATHEMATICS Computing the average daily balance, Interest, and balance for.. Ar Here is Jose's credit card statement for the month of March Date Transaction

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CONSUMER MATHEMATICS Computing the average daily balance, Interest, and balance for.. Ar Here is Jose's credit card statement for the month of March Date Transaction March ! Beginning balance March 5 Purchase March 12 Purchase March 27 Payment Transaction amount S1600.25 S68.02 S140.50 S150.00 (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in March. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction March 1 Beginning balance March 5 Purchase March 12 Purchase March 27 Payment Transaction Unpaid amount Number of days at that balance balance S160025 $1600.25 4 days (from March 1 through March 4) $68.02 S1668.27 days (from March 5 through March 11) $140.50 SO 15 days (from March 12 through March 26) S150.00 s 5 days (from March 27 through March 31) Total: 31 days Unpaid Number balance of days S6401.00 so si se Total: ? X (b) Find the average daily balance. Write your answer to the nearest cent. (c) Suppose the credit card company charges an interest rate of 1.3% on the average daily balance for March found in part (b). How much interest will be charged? Write your answer to the nearest cent. si (d) What will Jose's beginning balance be for the month of April (Including the interest for March found in part (c))

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