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Here is Dan's credit card statement for the month of May. Date Transaction Transaction amount $1500.03 $490.00 May 1 Beginning balance May 10 Payment May
Here is Dan's credit card statement for the month of May. Date Transaction Transaction amount $1500.03 $490.00 May 1 Beginning balance May 10 Payment May 14 Purchase May 26 Payment $32.35 $700.00 (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in May. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction X Transaction Unpaid Number of days at that balance amount balance $1500.03 $1500.03 9 days (from May 1 through May 9) $490.00 $1010.03 days (from May 10 through May 13) $32.35 $ 12 days (from May 14 through May 25) $ 700.00 si 6 days (from May 26 through May 31) Total: 31 days Unpaid Number balance of days $13,500.27 sa May 1 Beginning balance May 10 Payment May 14 Purchase May 26 Payment Total: sa ? (b) Find the average daily balance. Write your answer to the nearest cent. s (c) Suppose the credit card company charges an interest rate of 1.6% on the average daily balance for May found in part (b). How much interest will be charged? Write your answer to the nearest cent. si (d) What will Dan's beginning balance be for the month of June (including the interest for May found in part (C))? si
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