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You have a credit card that charges an interest rate of 17% compounded monthly. The table below shows your activity for the month of March.
You have a credit card that charges an interest rate of 17% compounded monthly. The table below shows your activity for the month of March. Date March 1 Beginning Balance March 10 Purchase March 11 Payment March 20 Purchase March 21 Purchase March 24 Purchase March 31 Ending Balance Activity Balance 1,468.36 1,508.89 1,208.89 92.10 1,300.99 11.83 1,312.82 36.24 1,349.06 1,349.06 S Amount 40.53 -300.00 What is the average daily balance for this account? What is the finance charge for the month of March?
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