he credit card with the ansactions described on the right ses the average daily balance hethod to calculate interest. The monthly interest rate is 1.5% of the verage daily balance. Calculate arts a-d using the statement on he right. Transaction Description Previous balance, $6240.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries March 21 Charge: Car Repairs March 31 End of billing period Payment Due Date: April 9 Transaction Amount $350.00 credit $60.00 $80.00 $220.00 . Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ Round to the nearest cent as needed.)
he credit card with the ansactions described on the right ses the average daily balance hethod to calculate interest. The monthly interest rate is 1.5% of the verage daily balance. Calculate arts a-d using the statement on he right. Transaction Description Previous balance, $6240.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries March 21 Charge: Car Repairs March 31 End of billing period Payment Due Date: April 9 Transaction Amount $350.00 credit $60.00 $80.00 $220.00 . Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period 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
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:The credit card with the
transactions described on the right
uses the average daily balance
method to calculate interest. The
monthly interest rate is 1.5% of the
average daily balance. Calculate
parts a-d using the statement on
the right.
Transaction
Amount
Transaction Description
Previous balance, $6240.00
March 1 Billing date
March 5 Payment
$350.00 credit
$60.00
March 7 Charge: Restaurant
March 12 Charge: Groceries
March 21 Charge: Car Repairs $220.00
$80.00
March 31 End of billing period
Payment Due Date: April 9
a. Find the average daily balance for the billing period. Round to the nearest cent.
The average daily balance for the billing period is $
(Round to the nearest cent as needed.)
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