F1 DElizabeth went on a fabulous vacation in May and racked up a lot of charges onher credit card. When it came time to pay her June credit card bill, she left abalance of $1180.00. Elizabeth's credit card billing cycle runs from the 19th ofeach month to the 18th of the next month, and her interest rate is 19.5%. Shestarted the billing cycle June 19-July 18 with a previous balance of $1180.00. Inaddition she made three purchases, with the dates and amounts shown in thetable to the right. On July 15 she made an online payment of $510.00 that wascredited to her balance the same day. Complete parts (a) through (c).DateAmount ofpurchase/payment6/21$182.786/30$40.00$94.427/57/15 Payment $510.00(a) Find the average daily balance on the credit card account for the billing cycle June 19-July 18.The average daily balance for the billing cycle is $(Round to the nearest cent as needed.)

Step 1: From the question, we have the outstanding balance of June month and the current billing…

Answered: D Elizabeth went on a fabulous vacation…

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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Last month the average daily balance on Caitlins credit card was $1854.85 that there were 28 days in that month and her annual interest rate was 17.3% what is the amount of interest that she will pay on her credit card that month
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