Question
You have a credit card that charges an interest rate of 15.85% compounded monthly. The table below shows your activity for the month of April.
You have a credit card that charges an interest rate of 15.85% compounded monthly. The table below shows your activity for the month of April.
| Date | Activity | Amount | Balance |
|---|---|---|---|
| April 1 | Beginning Balance | 1,400.00 | |
| April 6 | Purchase | 33.90 | 1,433.90 |
| April 13 | Payment | 175.00 | 1,258.90 |
| April 19 | Purchase | 79.00 | 1,337.90 |
| April 24 | Purchase | 14.00 | 1,351.90 |
| April 29 | Purchase | 70.00 | 1,421.90 |
| April 30 | Ending Balance | 1,421.90 |
What is the average daily balance for this account? $ What is the finance charge for the month of April? $
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Economic Growth In Latin America And The Impact Of The Global Financial Crisis
Authors: Mauricio Garita
1st Edition
1522549811,152254982X
