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Here is Chau's credit card statement for the month of December. Date Transaction December 1 Beginning balance December 4 Purchase December 13 Purchase Decembe 24
Here is Chau's credit card statement for the month of December. Date Transaction December 1 Beginning balance December 4 Purchase December 13 Purchase Decembe 24 Payment Date (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in December. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Transaction Transaction amount $1400.25 December 1 Beginning balance December 4 Purchase December 13 Purchase December 24 Payment $76.09 $680.80 $550.00 Transaction amount Unpaid balance Number of days at that balance $1400.25 3 days (from December 1 through December 3) days (from December 4 through December 12) 11 days (from December 13 through December 23) 8 days (from December 24 through December 31) Total: 31 days $1400.25 $76.09 $1476.34 $680.80 $550.00 $ $ Unpaid balance Number X of days $4200.75 Total: $0 $0 $0 ||| O CONSUMER MATHEMATICS Computing the average daily balance, interest, and balance for. *** ber 13 Purchase December 24 Payment $680.80 $550.00 $ 11 days (from December 13 through December 23) $8 days (from December 24 through December 31) Total: 31 days (b) Find the average daily balance. Write your answer to the nearest cent. $0 (c) Suppose the credit card company charges an interest rate of 1.7% on the average daily balance for December found in part (b). How much interest will be charged? Write your answer to the nearest cent. (d) What will Chau's beginning balance be for the month of January (including the interest for December found in part (c))? X S ? $ Total: $ 3 ? 1/5
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