Question: I need help with Part B . Average Daily Balance: Most credit cards charge interest based on the average daily balance per billing cycle. In

I need help with Part B

I need help with Part B . Average Daily Balance: Most credit

. Average Daily Balance: Most credit cards charge interest based on the average daily balance per billing cycle. In this case each balance Within the billing cycle is weighted by the number of days it exists. Suppose your credit card has a 30 day billing cycle and the balances over these 30 days are given in the table below. balance 3% days Days Transaction (1') (in) 1-6 remaining balance $1200 6 7-10 $400 purchase $1600 4 11-20 $300 purchase $1900 10 21-30 $1000 payment $900 10 (a)* Calculate the average daily balance for these 30 days. (b) 1What would have been your average daily balance if you paid $1200 on day 13 instead of $1000 on day 21

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