Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $240. The transactions on the account for the month are given in the table below. Assume an annual interest rate of 17% on the account and that the billing date is August 1st. Date Transaction August 5 Made payment of $78 August 9 Charged $150 for hiking boots August 16 Charged $18 for gasoline August 25 Charged $27 for restaurant meal
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
|
Date
|
Transaction
|
|
August 5
|
Made payment of $78
|
|
August 9
|
Charged $150 for hiking boots
|
|
August 16
|
Charged $18 for gasoline
|
|
August 25
|
Charged $27 for restaurant meal
|
Step by step
Solved in 4 steps
