ation listCredit Card StatementTransaction DescriptionPrevious balance, $2652.59June 1Billing dateJune 6June 8June 9June 17June 27June 30PaymentCharge: GasCharge: GroceriesCharge: GasCharge: GroceriesCharge: ClothingQuestion 9End of billing periodPayment Due Date: July 9Get more help -The credit card with the transacticPrintTransaction Amount$1100.00 credit$34.32$136.71$41.39$127.04$214.07DoneClear all of 1The credit card with the transactions described in the popupbelow uses the average daily balance method to calculateinterest. The monthly interest rate is 1.2% of the averagedaily balance. Calculate parts a-d using the statement in thepopup.Click the icon to view the credit card statement.a. Find the average daily balance for the billing period.Round to the nearest cent.The average daily balance for the billing period is $(Round to the nearest cent as needed.)

The average balance is the balance on a credit or store account found in the middle value over a…

Transaction Description Previous balance, $2652.59 June 1 Billing date June 6 June 8 June 9 June 17 June 27 June 30 Payment Charge: Gas Charge: Groceries Charge: Gas Charge: Groceries Charge: Clothing Question 9 End of billing period Payment Due Date: July 9 Print Transaction Amount $1100.00 credit $34.32 $136.71 $41.39 $127.04 $214.07 Done

Transaction Description Previous balance, $2652.59 June 1 Billing date June 6 June 8 June 9 June 17 June 27 June 30 Payment Charge: Gas Charge: Groceries Charge: Gas Charge: Groceries Charge: Clothing Question 9 End of billing period Payment Due Date: July 9 Print Transaction Amount $1100.00 credit $34.32 $136.71 $41.39 $127.04 $214.07 Done

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter4: Going Into Debt

Section: Chapter Questions

Problem 29AA

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