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PROBLEM 1 Read each of the following problem situations carefully. Answer the questions as directed. Show your work in the space provided. Round all anawers

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PROBLEM 1 Read each of the following problem situations carefully. Answer the questions as directed. Show your work in the space provided. Round all anawers to the hundredth place. There are 30 days in the month of September. Suppose on Sept. 1" you have a beginning balance on your credit card account of $427.50 and during the month, you make the following transactions: Transaction Amount Date Sept. 2 Payment $27 Sept. 10 Charge: Gasolme Sept. 21 Charge: Food $31.47 a Fill in the table below telling the balance for each period, the number of days in the period, and the number of days times the balance for each period Round your answers to the nearest hundredth place. Dates Transaction Balance Number of Number of Days times Balance Days Sept. 1 none $427.50 1($427.50) = $427.50 Sept. 2 $427.50 -$50 Sept. 3-9 none Sept. 10 Sept. 11 - 20 none Sept. 21 Sept. 22 - 30 none Sum B.Use the table above and find the average daily balance for the month of September. Round your answer to the hundredth place. PROBLEM 2 You have a revolving credit account with a popular mobile device store. Your average daily balance for the month of August is $746.32. Your balance on the last day of the month is $955.20 The APR. is 15%%. a Find the finance charge that will be added to your account at the end of the month Round the answer to the nearest hundredth place b. Find the balance due on September 1" Round your answer to the hundredth place. PROBLEM 3 For the month of October, the average daily balance on your credit card account is $837.28. Your closing balance on the last day of the month is $886.12. The APR. for your account is 18%. The company determines the minimum payment to be 2% of the total balance due on the first day of the month. Find the minimum payment that is due on the credit card account on November 1"

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