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For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.6% per month on
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.6% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $737.46 July 7 Billing Date July 18 Payment $300 July 26 Lunch $55.69 August 3 Concert tickets $86.87 (a) The average daily balance is $ (Round to the nearest cent as needed.) (b) The finance charge is $ (Round to the nearest cent as needed.) (c) The account balance for the next billing is $ (Round to the nearest cent as needed.)
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