Chapter 12, Problem 27ES

To determine

To calculate: The unpaid balance on November $1$ if the finance charge on the average daily balance is $1.5\%$ and end date of billing cycle is October $31$.

Date posted	Activity	Amount
October $1$	Billing date	Previous balance $\$426.40$
October $8$	Purchase	$41.60$
October $11$	Payment	$70.00$
October $16$	Purchase	$31.25$
October $21$	Purchase	$26.80$