Question
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: $739.41 July 6 Billing Date July 16 Payment $200 July 28 Lunch $43.86 August 4 Concert tickets $69.58 (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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