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please answer A-E i am very confused 11. Use the Previous Balance Method to answer the questions below. BE SURE TO SHOW ALL WORK. Emily's
please answer A-E i am very confused
11. Use the Previous Balance Method to answer the questions below. BE SURE TO SHOW ALL WORK. Emily's credit card statement shows a balance of S563 89 on May 5th, the billing date. For the period ending June 5th, she had the following transactions: May 7 Charge: Clothing....... $89.75 May 14 Charge: Gas.... $31.23 May 20* Charge: Groceries.....$120.34 May 214 Charge: Oil Change... $42.37 May 24th Charge:Gas... $29.65 A. Determine the finance charge on May 5 by using the previous balance method. Assume that the interest rate is 1.3% per month B. Determine the new account balance on June 5 using the finance charge from part (A), C. Determine the average daily balance for the period. pute Delete of Dyr DXD My 5 563 ZE 7 MICS 20 ? 1 My CMS my87724 D. Determine the finance charge on June 5 by using the average daily balance method. Assume that the interest rate is 1.3% per month. 3 E. Determine the new account balance on June 5" using the finance charge found in part (0) Step by Step Solution
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