Find the average daily balance for the credit card with the following transactions. Assure one...
80.2K
Verified Solution
Link Copied!
Question
Finance
Find the average daily balance for the credit card with the following transactions. Assure one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance. Previous Balance $450,45 Billing Date Jan. 15 Date Transaction Amount Jan. 20 Return $102.21 Jan. 23 Purchase $34.21 Jan. 30 Purchase $ 48.90 Feb 5 Payment $120 The average daily balance is S. (Round to the nearest cont.) The finance charge is $0 (Round to the nearest cent.) The new balance is Enter your answer in each of the answer boxes
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
