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A person has a credit card with an APR of 15.5% and a balance of $615. On the 15th of the month, she makes a charge of $211. If she makes no other -charges or payments, using the average daily balance method, what will be the amount of interest charged to her (assume there are 30 days in the month)? 2. A person has a balance of $1000 on their credit -card that charges 21.9% APR. On the 20th of the month they make a payment of $500. With no other charges or payments, using the average daily balance method, what will be the interest charged (assume 30 days in the month)? 3. A person has a credit card with an APR of 12%. She owes zero on the card at the beginning of the month. On the 5th, she charges $200. On the 10th she charges $300. On the 20th, she charges $100 With no other charges or payments, using the -average daily balance method, what will be the interest charged (assume 30 days in the month)? In order to avoid paying that interest, how much would she need to pay at the end of the month? 4. A person has a balance on their credit card of $859.56. They make $435 worth of further purchases and also make a payment of $150. The APR on their credit card is 21.6% (to get a monthly interest rate from the APR simply divide the APR by 12). What will be their new balance at the end of the next month using the unpaid balance method? Section 13.2 1. $8.73 2. $14.70 3. $3.78 interest, $600 to avoid interest 4. $1165.16

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