Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,600 9/19 Payment $ 66 cr. 9/30 Charge: Home Depot 1,800 10/3 Payment 66 cr. 10/7 Cash advance 76 Finance charge is 1.5% on average daily balance.
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,600 9/19 Payment $ 66 cr. 9/30 Charge: Home Depot 1,800 10/3 Payment 66 cr. 10/7 Cash advance 76 Finance charge is 1.5% on average daily balance.
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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Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.)
| 30-day billing cycle | ||||||||
| 9/16 | Billing date | Previous balance | $ | 2,600 | ||||
| 9/19 | Payment | $ | 66 | cr. | ||||
| 9/30 | Charge: Home Depot | 1,800 | ||||||
| 10/3 | Payment | 66 | cr. | |||||
| 10/7 | Cash advance | 76 | ||||||
Finance charge is 1.5% on average daily balance.
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