Question

For the credit card​ account, assume one month between billing dates​ (with the appropriate number of​ days) and interest of 1.6 % 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: ​$434.33 January 12 Billing Date January 15 Returns ​$104.78 January 22 Clothes ​$136.55 January 27 Bus tickets ​$66.55 February 4 Payment ​$120 February 7 Flowers ​$62.31 ​(a) The average daily balance is ​$ nothing. ​(Round to the nearest cent as​ needed.) ​(b) The finance charge is ​$ nothing. ​(Round to the nearest cent as​ needed.) ​(c) The account balance for the next billing is ​$ nothing. ​(Round to the nearest cent as​ needed.)

Answer 1

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