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The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is

The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is

1.5%

of the average daily balance. Calculate parts a-d using the statement in the popup.

Transaction Description

Transaction Amount

Previous balance,

$2647.22

June 1

Billing date

June 6

Payment

$1300.00

credit

June 8

Charge: Gas

$36.15

June 9

Charge: Groceries

$136.52

June 17

Charge: Gas

$41.92

Charge: Groceries

$127.05

June 27

Charge: Clothing

$215.31

June 30

End of billing period

Payment Due Date: July 9

a. Find the average daily balance for the billing period. Round to the nearest cent.

The average daily balance for the billing period is $

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