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Sara went on a fabulous in May and racked up a lot of charges on her credit card. When it came time to pay her
Sara went on a fabulous in May and racked up a lot of charges on her credit card. When it came time to pay her June credit card bill, she left a balance of $1230.00. Sara's credit card billing cycle runs from the 19 of each month to the 18th of the next month, and her interest rate is 16.5% She started the billing cycle June 19-July 18 with a previous balance of $1230.00. In addition she made three purchases, with the dates and amounts shown in the table to the right. On July 15 she made an online payment of $520,00 that was credited to her balance the same day. Complete parts a through c. Amount of Date purchase/payment 6/21 $172.88 6/30 $50.00 7/5 $90.25 7/15 Payment $520.00 a. Find the average daily balance on the credit card account for the billing cycle June 19-July 18 The average daily balance for the billing cycle is S (Round to the nearest cent as needed.) b. Compute the interest charged for the billing cycle June 19-July 18 The interest to be paid on July 19 is $ (Round to the nearest cent as needed) c. Find the balance on the account at the end of the June 19-July 18 billing cycle The new balance on July 19 is $ (Round to the nearest cent as needed)
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