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Author Question: A credit card has a monthly rate of 1.58% and uses the average daily balance method for calculating ... (Read 75 times)

P68T

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on: Feb 2, 2020
A credit card has a monthly rate of 1.58% and uses the average daily balance method for calculating interest. Here are some of the details in the June 1-June 30 itemized billing:
   June 1 Unpaid Balance: $450.77
   Payment Received June 7: $135
   Purchases Charged to the Account: $257.76
   Average Daily Balance: $342.77
   Last Day of the Billing Period: June 30
   Payment Due Date: July 9

a. Find the interest due on the payment due date.
b. Find the total balance owed on the last day of the billing period.
c. Minimum payment terms are shown below. What is the minimum payment due by July 9?

   

◦ a. $5.49
b. $658.54
3. $57.90
◦ a. $5.42
b. $578.95
c. $57.90
◦ a. $5.24
b. $321.01
c. $20.00
◦ a. $5.49
b. $315.77
c. $20.00
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
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Marked as best answer by P68T on Feb 2, 2020

jomama

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Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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P68T

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Reply 2 on: Feb 2, 2020
Thanks for the timely response, appreciate it

amandalm

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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