Mathematics
28.07.2021 10:13
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Calculate the average daily balance, finance charge, and new balance using the average

Calculate the average daily balance, finance charge, and new balance using the average daily balance method.
monthly rate = 1.25%
date
payments purchases
balance
number of days product/sum
9/1 - 9/5
$387.52
$1,937.60
9/6
$50.00
$337.52
$337.52
9/7-9/18
9/19
$62.26
$399.78
$399.78
9/20 - 9/30
total
30
the average daily balance =
= 30 = $
finance charge = monthly rate x average daily balance = $
new balance = previous balance - payment/credits + finance charge + new purchases = $
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vanessacasillas452
vanessacasillas452
4,7(19 marks)

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