Question
Find the average daily balance for the given credit-card account. Assume the billing date is the same day each month, and use the actual number
Find the average daily balance for the given credit-card account. Assume the billing date is the same day each month, and use the actual number of days in each month. Then find the finance charge if the previous balance was $721.12 and the interest is 1.1% per month on the average daily balance. Finally, find the balance at the end of the billing cycle. May 17 Billing Date May 19 Mail Order $nbsp 31.33 May 25 Returns $nbsp 30.21 May 28 Wine $nbsp 30.41 June 3 Payment $124 June 6 Returns $75.55 June 10 Birthday Gift $115 June 14 Cash Advance $150 The average daily balance is $ nothing. (Round to the nearest cent as needed.) The finance charge is $ ---------. (Round to the nearest cent as needed.) The balance at the end of the billing cycle $ ----------. (Round to the nearest cent as needed.)
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