credit card bill due on April 5 showed a balance of 263 dollars. The card holder forgot to pay the bill until the 20th of the month, but paid the full amount of 263 dollars at that time. In the meantime, the card was used to make purchases of 138 dollars on the 10th of the month and 74 dollars on the 20th of the month. What was the average daily balance for the billing period?
credit card bill due on April 5 showed a balance of 263 dollars. The card holder forgot to pay the bill until the 20th of the month, but paid the full amount of 263 dollars at that time. In the meantime, the card was used to make purchases of 138 dollars on the 10th of the month and 74 dollars on the 20th of the month. What was the average daily balance for the billing period?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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A credit card bill due on April 5 showed a balance of 263 dollars. The card holder forgot to pay the bill until the 20th of the month, but paid the full amount of 263 dollars at that time. In the meantime, the card was used to make purchases of 138 dollars on the 10th of the month and 74 dollars on the 20th of the month. What was the average daily balance for the billing period?
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