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Here is Kira's credit card statement for the month of July. Date Transaction July 1 Beginning balance July 6 Purchase July 8 Purchase July 18
Here is Kira's credit card statement for the month of July. Date Transaction July 1 Beginning balance July 6 Purchase July 8 Purchase July 18 Payment Transaction amount $2300.75 $59.06 $640.30 $650.00 (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in July. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction July 1 Beginning balance July 6 Purchase July 8 Purchase July 18 Payment Transaction Unpaid Number of days at that balance amount balance $2300.75 $2300.75 5 days (from July 1 through July 5) $59.06 $2359.81 days (from July 6 through July 7) $640.30 SO 10 days (from July 8 through July 17) $650.00 s 14 days (from July 18 through July 31) Total: 31 days Unpaid Number balance of days $11,503.75 sl SI SI Total: si ? (b) Find the average daily balance. Write your answer to the nearest cent. s0 (C) Suppose the credit card company charges an interest rate of 1.4% on the average daily balance for July found in part (b). How much interest will be charged? Write your answer to the nearest cent. $. (d) What will Kira's beginning balance be for the month of August (including the interest for July found in part (c))? $ 3
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