16)A credit card statement showed these transactions during October. October 1 Previous balance $209.87 October 9 Purchases

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16)A credit card statement showed these transactions during October.

October 1 Previous balance $209.87

October 9 Purchases $20.26

October 29 Payment $110.00

The credit card has an interest rate of 8%

on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on

November 1. [Hint: Remember that October has 31 day

2) A credit card statement showed these transactions during October.

October 1 Previous balance $422.06

October 6 Purchases $51.31

October 16 Payment $190.00

The credit card has an interest rate of 13.5% on the average daily balance. Find the average daily balance, the finance charge for the month, and the new balance on November 1. [Hint: Remember that October has 31 days]

Posted Date: May 18, 2024 08:01 PM

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16)A credit card statement showed these transactions during October. October 1 Previous balance $209.87 October 9 Purchases

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