The Levys credit card statement shows a balance due of $1578 25 on March 23, the billing date For the period ending April 23, they had the following transactions (a) Determine the average daily balance for the billing period (b) Determine the finance charge to be paid on April 23 Assume an interest...

a Average daily balance 491464431 158537 b Finance charge prt 15853700131 2 ...

The Levys credit card statement shows a balance due of $1578.25 on March 23, the billing date.

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The Levys’ credit card statement shows a balance due of $1578.25 on March 23, the billing date. For the period ending April 23, they had the following transactions.

March 26 March 30 $79.98 Charge: Party supplies Charge: Restaurant meal Payment Charge: Clothing Charge: Car repairs 52.

(a) Determine the average daily balance for the billing period.

(b) Determine the finance charge to be paid on April 23. Assume an interest rate of 1.3% per month.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:54 AM

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The Levys credit card statement shows a balance due of $1578.25 on March 23, the billing date.

Question:

March 26 March 30 $79.98 Charge: Party supplies Charge: Restaurant meal Payment Charge: Clothing Charge: Car repairs 52.76 April 3 April 15 | April 22 250.00 190.52 190.85

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a Average daily balance 491464431 158537 b Finance charge prt 15853700131 2...View the full answer

A Survey of Mathematics with Applications

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