Question
During the previous 25 day billing cycle your credit card balance was at $273 for 5 days, $123 for 4 days, $135 for 7
During the previous 25 day billing cycle your credit card balance was at $273 for 5 days, $123 for 4 days, $135 for 7 days, $191 for 3 days, and $210 for 6 days. Show your work. a. What was the average daily balance for that billing cycle? Balance How many days? b. If the yearly interest rate for the card is 11.79%, how much interest will be charged for this billing cycle? c. What is the new balance in the account once the interest is added?
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Business Statistics A Decision Making Approach
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
9th Edition
013302184X, 978-0133021844
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