A credit card has an annual interest rate of 16.99 % , and interest is calculated by the average daily balance method. In a 30 -day billing cycle, purchases of $345 .86 and $246 .71 were made on days 9 and 16 , respectively, and a payment of $ 500.00 was credited to the account on day 15 . If the unpaid balance at the start of the billing cycle was $1,792 .19 , how much interest will be charged at the end of the billing cycle? What will the unpaid balance be at the start of the next billing cycle?
A credit card has an annual interest rate of 16.99 % , and interest is calculated by the average daily balance method. In a 30 -day billing cycle, purchases of $345 .86 and $246 .71 were made on days 9 and 16 , respectively, and a payment of $ 500.00 was credited to the account on day 15 . If the unpaid balance at the start of the billing cycle was $1,792 .19 , how much interest will be charged at the end of the billing cycle? What will the unpaid balance be at the start of the next billing cycle?
Solution Summary: The author calculates the interest charged at the end of the billing cycle and the amount of unpaid balance if the credit card has an annual interest rate of 16.99%
A credit card has an annual interest rate of
16.99
%
, and interest is calculated by the average daily balance method. In a
30
-day billing cycle, purchases of
$345
.86
and
$246
.71
were made on days
9
and
16
, respectively, and a payment of
$
500.00
was credited to the account on day
15
. If the unpaid balance at the start of the billing cycle was
$1,792
.19
, how much interest will be charged at the end of the billing cycle? What will the unpaid balance be at the start of the next billing cycle?
Task:
Tensor Calculus: Applications in Physics
Refer to Question 15 in the provided document.
Link:
https://drive.google.com/file/d/1wKSrun-GlxirS31Z9qoHazb9tC440AZF/view?usp=sharing
Task:
Real Analysis: Measure Theory
Refer to Question 16 in the provided document.
Link:
https://drive.google.com/file/d/1wKSrun-GlxirS31Z9qoHazb9tC440AZF/view?usp=sharing
Task:
4 Number Theory: Modular Arithmetic
Refer to Question 14 in the provided document.
Link:
https://drive.google.com/file/d/1wKSrun-GlxirS3IZ9qoHazb9tC440AZF/view?usp=sharing
15 Tensor Calculus: Applications in Physics
Task:
Refer to Question 15 in the provided document.
Link: https://drive.google.com/file/d/1wKSrun-GlxirS31Z9qoHazb9tC440AZF/view?usp=sharing
6 Numerical Methods: Root-Finding Algorithms
Task:
Refer to Question 6 in the provided document.
Link: https://drive.google.com/file/d/1wKSrun-GlxirS3IZ9qo Hazb9tC440 AZF/view?usp=sharing
7 Group Theory: Sylow's Theorems
Task:
Refer to Question 7 in the provided document.
Link:
https://drive.google.com/file/d/1wKSrun-GlxirS31Z9qo Hazb9tC440 AZF/view?usp=sharing
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