Mathematics, 25.02.2021 01:00 joejoefofana
*PLEASE SEE ATTACHED IMAGE FOR FORMATTED QUESTION*
On February 3, the billing date, Carol Ann Bluesky had a balance due of $129.51 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.
a) Find Carol Ann's average daily balance for the billing period from February 3 to March 3. Assume it is not a leap year.
b) Find the finance charge to be paid on March 3.
c) Find the balance due on March 3.
d) Compare the result obtained to those obtained using the previous balance method.
Answers: 2
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*PLEASE SEE ATTACHED IMAGE FOR FORMATTED QUESTION*
On February 3, the billing date, Carol Ann Blu...
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