For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the average daily balance. Find (a) the average daily balance. (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $477.66 January 10 Billing Date January 14 Returns January 20 Clothes January 26 Bus tickets February 2 Payment i February 7 Flowers $105.81 $117,78 $69.84 $125 $54.18 (a) The average daily balance is $ (Round to the nearest cent as needed.)

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the average daily balance. Find (a) the
average daily balance. (b) the monthly finance charge, and (c) the account balance for the next billing.
Previous Balance: $477.66
January 10 Billing Date
January 14 Returns
January 20 Clothes
January 26 Bus tickets
February 2 Payment i
February 7 Flowers
$105.81
$117,78
$69.84
$125
$54.18
(a) The average daily balance is $
(Round to the nearest cent as needed.)
Transcribed Image Text:For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the average daily balance. Find (a) the average daily balance. (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $477.66 January 10 Billing Date January 14 Returns January 20 Clothes January 26 Bus tickets February 2 Payment i February 7 Flowers $105.81 $117,78 $69.84 $125 $54.18 (a) The average daily balance is $ (Round to the nearest cent as needed.)
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