Calculate average daily balance: (Round your answer to the nearest cent.) 29 Day Billing Cycle 9/6 Balance $600 9/18 Payment $200 9/24 Charge $300 Average daily balance
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Calculate average daily balance: (Round your answer to the nearest cent.)
29 Day Billing Cycle
| 9/6 | Balance | $600 |
| 9/18 | Payment | $200 |
| 9/24 | Charge | $300 |
| Average daily balance |
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- Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $110 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $29.59 October 16 Credit $10.00 October 25 Purchase $123.60 average daily balance =Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $26.59 October 16 Credit $10.00 October 25 Purchase $122.60Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 30-day billing cycle 9/16 Billing date Previous balance $ 2,200 9/19 Payment $ 62 Credit 9/30 Charge: Home Depot 1,600 10/3 Payment 62 Credit 10/7 Cash advance 72 Finance charge is 1% on average daily balance. Average daily balance Finance charge
- The average daily balance of a credit card for the month of February was $1600$1600 and the unpaid balance at the end of the month was $900$900. If the annual percentage rate is 37.2%37.2% of the average daily balance, what is the total balance on the next billing date, March 1? Round your answer to the nearest cent.From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customer’s concern. 28-day billing cycle 18-March Billing date Previous balance $ 800.00 24-March Payment (credit) $ 60.00 29-March Charge: Sears $ 250.00 5-April Payment (credit) $ 20.00 9-April Charge: Macys $ 200.00 Required: Using the information above, complete the following table and questions Number of days of current balance Current balance Extension 6 $ 800.00 5 7 4 6 What is the total extension amount? What is the average daily balance? Total number of days of current balanceFrom the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customer’s concern. Note: Round your final answer to the nearest cent. 28-day billing cycle 3/18 Billing date $ 672 Previous balance 3/24 Payment $ 59 Credit 3/29 Charge: Sears 218 4/5 Payment 17 Credit 4/9 Charge: Macy’s 166 Average daily balance:
- Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 800 9/19 Payment $ 48 cr. 9/30 Charge: Home Depot 900 10/3 Payment 48 cr. 10/7 Cash advance 58 Finance charge is 1.25% on average daily balance.Using the table, what is the average daily balance of the credit card for the December 1 - December 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 -- -- 9,500 6 Purchase +500 10,000 16 Purchase +1,250 11,250 21 Purchase +3,000 14,250Using the table, what is the average daily balance of the credit card for the July 1 - July 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 ----- ------ 8000 9 Payment −700 7300 19 Purchase +550 7850 27 Payment −600 7250
- Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $110 and the following activity. (Round your answer to the nearest cent.)Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.): 30-day billing cycle 9/16 Billing date. Previous balance. $1,300 9/19 Payment: $53 cr. 9/30 Charge: home depot: $1,150 10/3 Payment: $53 cr. 10/7 Cash advance: $63 Finance charge is 1% on average daily balance. Average daily balance: ? Finance charge: ?1. For the credit card account, assume one month between billing dates and interest of 1.6% per month on the daily average balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous balance: $562 November 4 Billing date November 15 Payment $400 November 18 Groceries $350 November 20 Train card $190 December 1 Holiday shopping $320
