On November 1st, Ben owes $800 on his credit card. On November 5th, Ben pays $60 towards the balance of the card. On November 12th, Ben makes $90 in purchases. On November 22nd, Ben pays $150 towards the balance of the card. The average daily balance of the card for the month of November is

James Howard owns Howard Auto Sales. He periodically borrows money from Bay City State Bank and Trust. He permits some customers to sign short-term notes for their purchases. He usually discounts these notes at the bank. Following are selected transactions that occurred in March 20X1.  DATE   TRANSACTIONS 20X1   Mar. 4   Mr. Howard borrows $20,000 from the bank on a note payable for the business. Terms of the note are 8 percent interest for 45 days.   11   A 90-day $18,000 note payable to the bank is discounted at a rate of 10 percent.   22   Sold a car to Darnell Jones for $30,000 on a 75-day note receivable, bearing interest at 10 percent.   23   Discounted the Jones note with the bank. The bank charges a discount rate of 12 percent.   25   Sold a car for $30,000 to Henry Thomas. Thomas paid $4,000 cash and signed a 30-day note, bearing interest at 10 percent, for the balance.   28   Alfred Herron's account receivable is overdue. Howard requires him to sign a 12…

Juanita has good credit and gets the lowest interest rate possible for her credit card. She has a balance of $982 on her January statement. What is her periodic rate?

John Smith has a credit card that charges 11​% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 30 days. For 17 days his balance was ​$2,536.51. For 7 days the balance was ​$1,536.51. And for 6 days the balance was ​$1,895.33. Find the average daily balance. Find the amount of interest.