The annual interest rate on a credit card is 25.74% and interest is calculated by the average

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The annual interest rate on a credit card is 25.74% and interest is calculated by the average daily balance method. The unpaid balance at the start of a 30-day billing cycle was $1,672.18. A purchase of $265.12 was made on day 8 and a payment of $250 was credited to the account on day 20. Find the unpaid balance at the end of the billing cycle. (Use a 360-day year.)

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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