Question

L I CSKI TIU LITIRS > Tiylvia LDVAITASSETTES NAT-110-0A01-MML SP20 Math for Liberal Arts (3 cr) - Ryan Melbard Lia Cedillo & | 02/23/205:09 PM Homework: Unit 8 MML Homework Score: 0 of 1 pt 28 of 50 (27 complete) HW Score: 48.67%, 24.33 of 50 13.2.33 Question Help For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 15% per month on the average daily balance Find (a) the average daily balance. (b) the monthly finance charge, and (c) the account balance for the next billing Previous Balance: $488.57 January 13 Billing Date January 16 Returns $104 63 January 21 Clothes $134 45 (a) The average daily balance is $ (Round to the nearest cent as needed.) Enter your answer in the answer box and then click Check Answer Clear A 2 2 parts remaining Next Previous

Answer 1

= Solution: * / Running balance Date Jan 13 in billing date | Running opening balance Add balance $ 488.57 $488:57. No of days until balance Changed Jan 13 Jan 16 1. No. of days 1465.71 1 2966 $488.57 593.20 Jan 21 593.20 1134-45|727.65 23 16735.95 131 21,167.66 (a) Average daily balance = som of daily balance . days in billing period 21,167.66 = ($682.83 ... 31 Finance change = $682.83 x 15t. (b) $ 16:24) (c) account balance ff next billing = $727.65+ $10:24 - 4737-89