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Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance. The average daily balance is $. (Round to the nearest cent.) The finance charge is $ (Round to the nearest cent.) The new balance is $ Previous Balance Billing Date Date Apr. 18 Apr. 21 Apr. 26 May 7 Transaction Return Purchase Purchase Payment $556.12 Apr. 15 Amoun $67.98 $45.98 $93.11 $200

Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance. The average daily balance is $. (Round to the nearest cent.) The finance charge is $ (Round to the nearest cent.) The new balance is $ Previous Balance Billing Date Date Apr. 18 Apr. 21 Apr. 26 May 7 Transaction Return Purchase Purchase Payment $556.12 Apr. 15 Amoun $67.98 $45.98 $93.11 $200

Essentials Of Investments
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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Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance. The average daily balance is $. (Round to the nearest cent.) The finance charge is $ (Round to the nearest cent.) The new balance is $ CECH Previous Balance Billing Date Date Apr. 18 Apr. 21 Apr. 26 May 7 Transaction Return Purchase Purchase Payment $556.12 Apr. 15 Amount $67.98 $ 45.98 $93.11 $200
Transcribed Image Text:Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance. The average daily balance is $. (Round to the nearest cent.) The finance charge is $ (Round to the nearest cent.) The new balance is $ CECH Previous Balance Billing Date Date Apr. 18 Apr. 21 Apr. 26 May 7 Transaction Return Purchase Purchase Payment $556.12 Apr. 15 Amount $67.98 $ 45.98 $93.11 $200
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