Question: Ed Lubbocks FlashCard statement is below. There are entries missing. a. What is Eds average daily balance? b. What is Eds finance charge? c. What

Ed Lubbock’s FlashCard statement is below. There are entries missing.

Ed Lubbock ACCOUNT INFORMATION Account Number TRANSACTIONS 24 NOV 1 DEC 6

a. What is Ed’s average daily balance?
b. What is Ed’s finance charge?
c. What is Ed’s new balance?
d. What is Ed’s available credit?
e. If the $30 charge to Petrela Sailboats had been posted on 12/9, would the finance charge be higher or lower for this billing cycle? Explain.

Ed Lubbock ACCOUNT INFORMATION Account Number TRANSACTIONS 24 NOV 1 DEC 6 DEC SUMMARY 632174293 Rusty's Rib Palace 321446253 Payment 333261114 Petrela Sailboats Previous Balance $421.50 Total Credit Line Total Available Credit 7-6234712 Payments / Credits -$100.00 New Purchases $78.00 $ 1,000.00 Billing Date Late Charge Average Daily Balance 10 Dec Payment Due 21 Dec DEBITS/CREDITS (-) Finance Charge 1234 Algebra Street Euclid, WA # Days in Billing Cycle 30 New Balance APR 19.8% $48.00 -$100.00 $30.00 Minimum Payment $30.00 Monthly Periodic Rate 1.65%

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