Elizabeth went on a fabulous vacation in May and racked up a lot of charges on her credit card. When it came time to pay her June credit card bill, she left a balance of $1180.00. Elizabeth's credit card billing cycle runs from the 19th of each month to the 18th of the next month, and her interest rate is 18.5%. She started the billing cycle June 19-July 18 with a previous balance of $1180.00. In addition she made three purchases, with the dates and amounts shown in the table to the right. On July 15 she made an online payment of $550.00 that was credited to her balance the same day. Complete parts a through c. BETERD Date Amount of purchase/payment 6/21 $177.48 6/30 $50.00 7/5 $93.05 7/15 Payment $550.00 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.)

Elizabeth went on a fabulous vacation in May and racked up a lot of charges on her credit card. When it came time to pay her June credit card bill, she left a balance of $1180.00. Elizabeth's credit card billing cycle runs from the 19th of each month to the 18th of the next month, and her interest rate is 18.5%. She started the billing cycle June 19-July 18 with a previous balance of $1180.00. In addition she made three purchases, with the dates and amounts shown in the table to the right. On July 15 she made an online payment of $550.00 that was credited to her balance the same day. Complete parts a through c. BETERD Date Amount of purchase/payment 6/21 $177.48 6/30 $50.00 7/5 $93.05 7/15 Payment $550.00 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.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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