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For the credit cardaccount, assume one month between billing dates(with the appropriate number ofdays) and interest of 1.4 % per month on the average daily
For the credit cardaccount, assume one month between billing dates(with the appropriate number ofdays) and interest of 1.4 %
per month on the average daily balance. Find (a) the average dailybalance, (b) the monthly financecharge, and (c) the account balance for the next billing.
PreviousBalance: $762.69
July 6 Payment Billing Date
July 14 Payment $300.00
July 29 Lunch $45.19
August 5 Concert Tickets $89.54
A) The average daily balance is _______
B) The monthly finance charge ________
C) The Account balance for the next billing _______
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