Question
Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The
Using the average daily balance method and the information given, find the credit card average daily balance for the month of August (31 days). The annual interest rate is 18%.
(Round to the nearest cent.)
July 31
Balance
$420
August 4
Charge
$86
August 11
Payment
$350
August 18
Charge
$171
August 22
Charge
$35
The average daily balance for the month of August is .?
.
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Discrete Mathematics and Its Applications
Authors: Kenneth H. Rosen
7th edition
0073383090, 978-0073383095
