A credit card has a balance of $3,236 at the beginning of the billing period (on...
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A credit card has a balance of $3,236 at the beginning of the billing period (on the 10th) and charges 1.2% monthly interest on the average daily balance. Hint: June has 30 days. Use the credit card activity below to (a) find the average daily balance, (b) calculate the finance charge (monthly interest) on the average daily balance for the billing period, and (c) find the new beginning balance for the next billing period. You will enter these answers in questions 11 through 13 below. Balance on billing date: $3,236 Date June 10th June 13th June 18th July 4th Activity Billing date Payment Kings tickets Returned shoes Activity amount $1,000 $280 $82 11) Find the average daily balance. 12) Find the finance charge for the billing period. 13) Find the beginning balance for the next billing period. A credit card has a balance of $3,236 at the beginning of the billing period (on the 10th) and charges 1.2% monthly interest on the average daily balance. Hint: June has 30 days. Use the credit card activity below to (a) find the average daily balance, (b) calculate the finance charge (monthly interest) on the average daily balance for the billing period, and (c) find the new beginning balance for the next billing period. You will enter these answers in questions 11 through 13 below. Balance on billing date: $3,236 Date June 10th June 13th June 18th July 4th Activity Billing date Payment Kings tickets Returned shoes Activity amount $1,000 $280 $82 11) Find the average daily balance. 12) Find the finance charge for the billing period. 13) Find the beginning balance for the next billing period.
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