On February 2, the billing date, Carol Ann Bluesky had a balance due of $126.32 on...

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On February 2, the billing date, Carol Ann Bluesky had a balance due of $126.32 on her credit card Her bank charges an interest rate of 1.25% per month and uses the average daily balance method. She made the transactions described in the table during the month. Feb. 9 Feb 11 Feb. 2) Feb. 26 a) Find Carol Ann's average daily balance for the billing period from February 2 to March 2. Assume it is not a leap year b) Find the finance charge to be paid on March 2 c) Find the balance due on March 2 d) Compare the result obtained to those obtained using the previous balance method Charge. Art supplies Payment Charge Flowers delivered Charge Music CD $24.82 $100.00 $60 43 $13.95 On February 2, the billing date, Carol Ann Bluesky had a balance due of $126.32 on her credit card Her bank charges an interest rate of 1.25% per month and uses the average daily balance method. She made the transactions described in the table during the month. Feb. 9 Feb 11 Feb. 2) Feb. 26 a) Find Carol Ann's average daily balance for the billing period from February 2 to March 2. Assume it is not a leap year b) Find the finance charge to be paid on March 2 c) Find the balance due on March 2 d) Compare the result obtained to those obtained using the previous balance method Charge. Art supplies Payment Charge Flowers delivered Charge Music CD $24.82 $100.00 $60 43 $13.95

Answer rating: 100% (QA)

Date Transaction Debit Credit Daily Balance Feb 2 Initial Balance 12632 Feb 9 Charge Art supplies 24... View the full answer