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hi please help me with the following questions Use the given information to complete problems 610. Joey's credit card charges 18% APR on unpaid monthly
hi please help me with the following questions Use the given information to complete problems 610. Joey's credit card charges 18% APR on unpaid monthly balances. The interest charges are applied to the average daily balance on the account. A late fee of $10 is applied if Joey doesn't make a payment, or makes less than the minimum payment. Date Charge Balance Description 10/1 Balance from previous cycle 10/5 $150 $350 Sports equipment 10/10 $400 Water bill 10/17 $5,700 $6,100 Emergency room bill 10/27 -$1,200 $4,900 Online payment 10/30 $200 $5,100 Electric bill $200 $50 6. What is the monthly interest rate? 7. What is the average daily balance? 8. What is the interest charge for this billing cycle? 9. If the minimum payment of 2% of the balance total is made, what will the new balance be once the interest is added to the total? 10. If a payment of $1,800 is made and no other charges are added in the next billing cycle, what will be the next interest charge? Remember to add the old interest charge to the balance
hi please help me with the following questions
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