What is the average billing daily balance and finance charge (APR 15%) for the revolving credit account (assume a 30 day billing cycle)?

Please fill out the table attached.

Billing Date	Previous Balance	Payment Date	Payment Amount	New Charge Date	New Charge Amount
4/15	$335.50	4/20	$33.55
				4/25	$12.50
				4/26	$108.00

Average daily balance:

Finance Charge:

Answer rating: 100% (QA)

Answer Step 1 Daily Balances We know the starting balance on 415 33550 We assume no changes between ... View the full answer