Question
The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the
The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is March 1 through March 31, the previous balance was $157.65, and the annual simple interest rate is 21%. (Round your answers to the nearest cent.)
| March 5 | payment | $25.00 |
| March 17 | tools | $37.87 |
average daily balance=
finance charge=
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
12th edition
978-0324597714, 324597711, 324597703, 978-8131518571, 8131518574, 978-0324597707
