Using the table, what is the average daily balance of the credit card for the December 1 - December 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 -- -- 9,500 6 Purchase +500 10,000 16 Purchase +1,250 11,250 21 Purchase +3,000 14,250
Using the table, what is the average daily balance of the credit card for the December 1 - December 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 -- -- 9,500 6 Purchase +500 10,000 16 Purchase +1,250 11,250 21 Purchase +3,000 14,250
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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Question
Using the table, what is the average daily balance of the credit card for the December
1
- December
31
billing period? Round your answer to the nearest cent.
|
Day |
Activity |
Adjustment |
Closing Balance |
|
1 |
-- |
-- |
9,500 |
|
6 |
Purchase |
+500 |
10,000 |
|
16 |
Purchase |
+1,250 |
11,250 |
|
21 |
Purchase |
+3,000 |
14,250 |
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