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Here is Shen's credit card statement for the month of June. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June 25
Here is Shen's credit card statement for the month of June. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June 25 Payment Transaction amount $2600.75 $89.06 $910.90 $750.00 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in June. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June 25 Payment Transaction Unpaid Number of days at that balance amount balance $2600.75 $2600.75 7 days (from June 1 through June 7) $89.06 $2689.81 | days (from June 8 through June 20) $910.90 $0 4 days (from June 21 through June 24) $750.00 $0 6 days (from June 25 through June 30) Total: 30 days Unpaid Number balance of days $18,205.25 $ $1] $U Total: $0 x 6 ? (b) Find the average daily balance. Write your answer to the nearest cent. (c) Suppose the credit card company charges an interest rate of 1.5% on the average daily balance for June found in part (b). How much interest will be charged? Write your answer to the nearest cent. (d) What will Shen's beginning balance be for the month of July (including the interest for June found in part (c))? $ x 6
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