Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date October 3 October 7 October 10 October 16 October 25 average daily balance $ Activity Cash advance Payment Purchase Credit Purchase Amount $50.00 $75.00 $27.59 $20.00 $124.60

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 68SGR
icon
Related questions
Question
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the
nearest cent.)
Date
October 3
October 7
October 10
October 16
October 25
average daily balance = $
Activity
Cash advance
Payment
Purchase
Credit
Purchase
Amount
$50.00
$75.00
$27.59
$20.00
$124.60
Transcribed Image Text:Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date October 3 October 7 October 10 October 16 October 25 average daily balance = $ Activity Cash advance Payment Purchase Credit Purchase Amount $50.00 $75.00 $27.59 $20.00 $124.60
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill