Question: 3. (10 points) Using the following table containing the dates of purchases and payments to determine the average daily balance of a credit card
3. (10 points) Using the following table containing the dates of purchases and payments to determine the average daily balance of a credit card at the end of the billing cycle, assuming 30 days in the month (Round to the nearest cent). Days 0 6 12 25 28 Purchase/Payment Dollar Amount Unpaid Balance $1,250 $325 $875 $273 $486 Payment Purchase Purchase Payment
Step by Step Solution
3.32 Rating (158 Votes )
There are 3 Steps involved in it
SOLUTION To calculate the average daily balance of the credit card at the end of the billing cycle w... View full answer
Get step-by-step solutions from verified subject matter experts
