Question
The activity on Carls Visa account for one billing period is shown below. Find the average daily balance and finance charge if the billing period
The activity on Carls Visa account for one billing period is shown below. Find the average daily balance and finance charge if the billing period is May 15 through June 14. The previous balance was $8,030.22, and the annual (simple) interest rate is 20.5%. Please answer the questions and fill the chart
May 19 Bass Pro Shops $74.59
May 22 payment $100.00
May 31 Kroger $36.16
June 10 payment $50.00
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A) Average daily balance:
B) Finance charge:
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Personal Finance
Authors: E. Thomas Garman, Raymond Forgue
9th Edition
0618938737, 978-0618938735
