a e credit card statement to help fill in the table below Note that there are 31 days in May Also a purchase increases the

Question

a e credit card statement to help fill in the table below Note that there are 31 days in May Also a purchase increases the unpaid balance and a payment decreases the unpaid balance Date Transaction May 1 May 8 May 11 May 21 Payment Beginning balance Payment Purchase Transaction amount Unpaid Number of days at that balance balance 2200 06 2200 06 7 days from May 1 through May 7 370 00 35 75 1865 81 10 days from May 11 through May 20 800 00 1065 81 11 days from May 21 through May 31 Total 31 days 1830 06 3 days from May 8 through May 10 b Find the average daily balance Write your answer to the nearest cent 0 Unpaid Number balance of days X 15 400 42 5490 18 18658 10 10658 10 Total 50206 8 X c Suppose the credit card company charges an interest rate of 1 7 on the average daily balance for May found in part b How much interest will be charged Write your answer to the nearest cent 0 d What will Lucy s beginning balance be for the month of June including the interest for May found in part c

Kunduz · Accepted Answer

Click to see the answer