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Here is Tony's credit card statement for the month of March. Date Transaction March 1 Beginning balance March 4 Payment March 13 Purchase March 24
Here is Tony's credit card statement for the month of March. Date Transaction March 1 Beginning balance March 4 Payment March 13 Purchase March 24 Payment Transaction amount $1700.09 $340.00 $61.95 $800.00 (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in March. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction March 1 Beginning balance March 4 Payment March 13 Purchase March 24 Payment Transaction Unpaid Number of days at that balance amount balance $1700.09 $1700.09 3 days (from March 1 through March 3) $340.00 $1360.09 days (from March 4 through March 12) $61.95 $ 11 days (from March 13 through March 23) $800.00 $0 8 days (from March 24 through March 31) Total: 31 days Unpaid Number balance of days $5100.27 $0 $ Total: $0 (b) Find the average daily balance. Write your answer to the nearest cent. si (C) Suppose the credit card company charges an interest rate of 1.7% on the average daily balance for March found in part (b). How much interest will be charged? Write your answer to the nearest cent. si (d) What will Tony's beginning balance be for the month of April (including the interest for March found in part (C))? si
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