Question

For the credit card​ account, assume one month between billing dates​ (with the appropriate number of​ days) and interest of

1.1 %

per month on the average daily balance. Find ​(a) the average daily​ balance, ​(b) the monthly finance​ charge, and ​(c) the account balance for the next billing.

Previous​ Balance: ​$458.89
January 12	Billing Date
January 15	Returns	​$103.48
January 21	Clothes	​$116.88
January 25	Bus tickets	​$87.56
February 2	Payment	​$120
February 8	Flowers	​$54.43

Answer 1