A.) The activity on Marny Zell's MasterCard account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is June 26 through July 25, the previous balance was $396.41, and the annual interest rate is 19.5%. June 30 payment $200.00 July 2 gasoline $32.14 July 10 restaurant $58.0 average daily balance $ finance charge $
A.) The activity on Marny Zell's MasterCard account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is June 26 through July 25, the previous balance was $396.41, and the annual interest rate is 19.5%. June 30 payment $200.00 July 2 gasoline $32.14 July 10 restaurant $58.0 average daily balance $ finance charge $
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A.) The activity on Marny Zell's MasterCard account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is June 26 through July 25, the previous balance was $396.41, and the annual interest rate is 19.5%.
| June 30 | payment | $200.00 |
| July 2 | gasoline | $32.14 |
| July 10 | restaurant | $58.0 |
| average daily balance | $ |
| finance charge |
$ |
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