For the period beginning October 14, the average daily balance on Perry’s credit card was $810. If the balance at the end of the cycle was $465 and the APR on the card is 7.5%, what was the balance due on November 14?

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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For the period beginning October 14, the average daily balance on Perry’s credit card was $810. If the balance at the end of the cycle was $465 and the APR on the card is 7.5%, what was the balance due on November 14?

 

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