The balance on the Razazadas credit card on May 12, their billing date, was $378.50. For the

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The balance on the Razazadas’ credit card on May 12, their billing date, was $378.50. For the period ending June 12, they had the following transactions.

May 13 May 15 June 1 Charge: Toys $129.79 Payment Charge: Clothing Charge: Housewares 50.00 135.85 June 8 37.63

(a) Determine the average daily balance for the billing period.

(b) Determine the finance charge to be paid on June 12. Assume an interest rate of 1.3% per month.

(c) Determine the balance due on June 12.

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Related Book For  book-img-for-question

A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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