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On theMay 12 billing date, Malcolm had a balance due of $378.50 on his credit card. The transactions during the following month were: May 13Charge:

On theMay 12 billing date, Malcolm had a balance due of $378.50 on his credit card. The transactions during the following month were:

May 13Charge: Toys129.79

May 15Payment50.00

June 1Charge: Clothing135.85

June 8Charge: Housewares37.63

The billing period ends June 12, assume an interest rate of 1.3% per month.Using the average daily balance method, find the balance due on June 12.

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