Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 | Credit $20.00 October 25 Purchase $124.60 average daily balance = $
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 | Credit $20.00 October 25 Purchase $124.60 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 (in $) for October for a revolving credit
account with a previous month's balance of $120 and the following activity.
(Round your answer to the nearest cent.)
Date
Activity
Amount
October 3
Cash advance
$50.00
October 7
Payment
$75.00
October 10
Purchase
$28.59
October 16
Credit
$20.00
October 25
Purchase
$124.60
average daily balance = $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1bbadf8b-1a88-41c0-bb36-674f46a74d99%2F4a635725-58b1-4429-8f1c-8cb4156d70f1%2Fdvandbxl_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Calculate the average daily balance (in $) for October for a revolving credit
account with a previous month's balance of $120 and the following activity.
(Round your answer to the nearest cent.)
Date
Activity
Amount
October 3
Cash advance
$50.00
October 7
Payment
$75.00
October 10
Purchase
$28.59
October 16
Credit
$20.00
October 25
Purchase
$124.60
average daily balance = $
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