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For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% 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: $785.42 July 6 Billing Date July 14 Payment July 26 Lunch August 2 Concert tickets $200 $33.66 $85.55 (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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