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A credit card account had a $213 balance on October 5. A purchase of $168 was...

A credit card account had a $213 balance on October 5. A purchase of $168 was made on October 12, and a payment of $100 was made on October 28. Find the average daily balance if the billing date is November 5. (Round your answer to the nearest cent.)

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Answer #1
due date amount outstanding no of days due amount due = amount*no of days
october 5 to octorber 11 213 6 1278
october 12 to october 27 381=213+168 16 6096
october 28 to nobember 5 281=381-100 9 2529
Average balance amount due/ no of days in a month 9903/31 319.45
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