Question
Dallas Pierces most recent credit card statement follows. His finance charge is 15% APR. Calculate Dallass average daily balance, finance charge, and new balance. (Round
Dallas Pierces most recent credit card statement follows. His finance charge is 15% APR. Calculate Dallass average daily balance, finance charge, and new balance. (Round your final answers to the nearest cent.)
| 30-day billing cycle | ||||||
| 9/2 | Billing date | $ | 1,160 | previous balance | ||
| 9/7 | Payment | $ | 440 | cr. | ||
| 9/13 | Charge: Kohls | $ | 420 | |||
| 9/17 | Payment | $ | 370 | cr. | ||
| 9/28 | Charge: WalMart | 140 | ||||
What is the average daily balance, finance charge, and new balance?
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Finance And Financial Markets
Authors: Keith Pilbeam
2nd Edition
1403948356, 978-1403948359
