The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.6% of the average daily balance. A. Find the average daily balance for the billing period. B.Find the interest to be paid on july 1, the next billing date. C.Find the balance due on july 1.

A credit card issuer calculates interest using the average daily balance method.  The monthly interest rate is 1.1% of the average daily balance.  The following transactions occurred during the November 1 – November 30 billing period. Transaction Description Transaction Amount Previous balance, $4620.80   November 1         Billing date   November 7         Payment $650.00 credit November 11       Charge: Airline Tickets $350.25 November 25       Charge: Groceries $125.70 November 28       Charge: Gas $38.25 November 30       End of billing period   Payment Due Date:  December 9   Find the average daily balance for the billing period.  Round to the nearest cent. Find the interest to be paid on December 1, the next billing date.  Round to the nearest cent.  Find the balance due on December 1. This credit card requires a $10 minimum monthly payment if the balance due at the end of the billing period is less than $360.  Otherwise, the…

On the April 5 billing date, Michaelle Chappell had a balance due of $978.09 on her credit card. From April 5 through May 4, Michaelle charged an additional $454.12 and made a payment of $600. a) Find the finance charge on May 5, using the previous balance method. Assume that the interest rate is 1.5% per month. b) Find the new balance on May 5.

Using the table, what is the average daily balance of the credit card for the August 1 - August 31 billing period? Round your answer to the nearest cent. Provide your answer below: Day Activity Adjustment Closing Balance 1 850 8 Payment -400 450 16 Purchase +350 800 24 Purchase +600 1,400

Alexis Monroe, a biologist from Dyersburg, Tennessee, is curious about the accuracy of the interest charges shown on her most recent credit card billing statement. Interest Charged Interest Charge on Purchases $6.40 Interest Charge on Cash Advances $4.65 TOTAL INTEREST FOR THIS MONTH $11.05 Use the average daily balances provided to recalculate the interest charges, and compare the result with the amount shown on the statement. Round your answers to the nearest cent.   Annual Percentage Balances Subject to   Type of Balance Rate (APR) Interest Rate Interest Charge Purchases 15.14% (V) $513.39 $   Cash Advances 22.43% (V) $252.98 $   Balance Transfers 0.00%     $637.50 $   Penalty APR 28.99%      $    0.00 $

Please written by computer source For the period beginning October 14, the average daily balance on Perry’s credit card was $810. If the balance at the end of the cycle was $465 and the APR on the card is 7.5%, what was the balance due on November 14?

Calculate the discount period for the bank to wait to receive its money: (Use Days in a year table): date of note length of note date note discounted discount period (days) july 14th 50 days august 5 ?

Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $300. The transactions on the account for the month are given inthe table to the right. Assume an annual interest rate of 25% on the account and that the billing date is August 1. August 4 made payment of $94.August 14 charged $140 for hiking boots August 17 charged $18 for gasoline August 29 charged $31 for restaurant meal. What is the finance charge for August?

On august 10, a credit card account had a balance of $345. A purchase of $64 was made on august 15, and $165 was charged on august 27. A payment of $71 was made on august 15. The interest on the average daily balance is 1.35% per month. Find the finance charge on September 10 bill. (Round your answer to two decimal places)

On August 10, a credit card account had a balance of $345. A purchase of $52 was made on August 15, and $161 was charged on August 27. A payment of $71 was made on August 15. The interest on the average daily balance is 1.35% per month. Find the finance charge on the September 10 bill. (Round your answer to two decimal places.)