Question: On September 5 th , the billing date, Kim had a balance due of $ 6 2 5 . 3 0 on her credit card.

On September 5th, the billing date, Kim had a balance due of $625.30 on her credit card. The transactions during the following month were: Sept 8 Payment $250 Sept 21 Charge: Airline Ticket $320 Sept 27 Charge: Hotel Bill $190 Oct 2 Charge: Clothing $85 The Average Daily Balance on the Credit Card was stated as $530.15 The APR on the credit card is 18.4% a. How much interest is due on October 5th?(Use 30 days in the billing cycle since Sept 5-Oct 5 is 30 days.) b. What is the new balance on the account on October 5th?

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