Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 9/16 9/19 9/30 Billing date Payment Charge: Home Depot Payment 10/3 10/7 Cash advance Finance charge is 1% on average daily balance. Average daily balance Finance charge 30-day billing cycle Previous balance. $56 Credit 1,300 56 Credit 66 $ 1,600
Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 9/16 9/19 9/30 Billing date Payment Charge: Home Depot Payment 10/3 10/7 Cash advance Finance charge is 1% on average daily balance. Average daily balance Finance charge 30-day billing cycle Previous balance. $56 Credit 1,300 56 Credit 66 $ 1,600
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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Transcribed Image Text:Calculate the average daily balance and finance charge on the statement below.
Note: Round your answers to the nearest cent.
Billing date
Payment
Charge: Home Depot
Payment
9/16
9/19
9/30
10/3
10/7
Cash advance
Finance charge is 1% on average daily balance.
Average daily balance
Finance charge
30-day billing cycle
Previous balance
$ 56 Credit
1,300
56 Credit
66
$ 1,600
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