Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions Summary Interest on a credit card's unpaid balance is calculated using the average daily balance. Lance is the balance shown i payment is the

image text in transcribed

Instructions Summary Interest on a credit card's unpaid balance is calculated using the average daily balance. Lance is the balance shown i payment is the payment made, d1 is the number of days in the billing cycle, and d2 is the number of days payment is made before billing cycle Then, the average daily balance is averageDailyBalance = (netBalance * di-payment * d2) / dl If the interest rate per month is, say, 0.0152, then the interest on the unpaid balance is: interest averageDailyBalance * -0152 Instructions Write a program that accepts as input netBalanced1 paynent, d2 , and interest rate per month ( interestRate) The program outputs the interest Format your output to two decimal places

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Databases questions