Suppose your VISA card calculates interest using the average daily balance method, and the monthly interest rate is 2.05%. The itemized billing for the month of April is shown below. Detail Date Amount Unpaid balance April 1 1040 Charge April 3 1160 Charge April 11 725 Charge April 15 350 Payment received April 28 110 Last day of billing period April 30 Payment due date May 7 (a) Find the average daily balance. $(b) Find the interest due for this month. $(c) Find the total balance owed on the last day of the billing period. $(d) This credit card requires a $20 minimum payment or 1/36 of the amount due, whichever is higher. What is the minimum monthly payment due for this month? $
Suppose your VISA card calculates interest using the average daily balance method, and the monthly interest rate is 2.05%. The itemized billing for the month of April is shown below. Detail Date Amount Unpaid balance April 1 1040 Charge April 3 1160 Charge April 11 725 Charge April 15 350 Payment received April 28 110 Last day of billing period April 30 Payment due date May 7 (a) Find the average daily balance. $(b) Find the interest due for this month. $(c) Find the total balance owed on the last day of the billing period. $(d) This credit card requires a $20 minimum payment or 1/36 of the amount due, whichever is higher. What is the minimum monthly payment due for this month? $
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Suppose your VISA card calculates interest using the average daily balance method, and the monthly interest rate is 2.05%. The itemized billing for the month of April is shown below.
| Detail | Date | Amount |
|---|---|---|
| Unpaid balance | April 1 | 1040 |
| Charge | April 3 | 1160 |
| Charge | April 11 | 725 |
| Charge | April 15 | 350 |
| Payment received | April 28 | 110 |
| Last day of billing period | April 30 | |
| Payment due date | May 7 |
(a) Find the average daily balance. $
(b) Find the interest due for this month. $
(c) Find the total balance owed on the last day of the billing period. $
(d) This credit card requires a $20 minimum payment or 1/36 of the amount due, whichever is higher. What is the minimum monthly payment due for this month? $
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