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Here is Rita's credit card statement for the month of November. Transaction Date Transaction amount November 1 Beginning balance $1400.25 November 13 Purchase $64.07 November
Here is Rita's credit card statement for the month of November. Transaction Date Transaction amount November 1 Beginning balance $1400.25 November 13 Purchase $64.07 November 20 Purchase $480.70 November 23 Payment $450.00 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in November. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. 8 Date Transaction Unpaid Number balance of days Transaction Unpaid amount balance $1400.25 $1400.25 Number of days at that balance 12 days (from November 1 through November 12) Beginning balance November 11 $16,803.00 November 13 Purchase $64.07 $1464.32 days (from November 13 through November 19) $480.70 $0 3 days (from November 20 through November 22) November 20 Purchase November 23 Payment $450.00 $ $0 8 days (from November 23 through November 30) Total: 30 days Total: S (b) Find the average daily balance. Write your answer to the nearest cent. (c) Suppose the credit card company charges an interest rate of 1.6% on the average daily balance for November found in part (b). How much interest will be charged? Write your answer to the nearest cent. $0 (d) What will Rita's beginning balance be for the month of December (including the interest for November found in part (c))? of M EU
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