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ELEN [110]
2 years ago
11

I need to know what it is

Mathematics
1 answer:
Alla [95]2 years ago
6 0

Answer:

1. C 3 1/8

2. A 3

Step-by-step explanation:

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Ted has a credit card that uses the average daily balance method. For the first 9 days of one of his billing cycles, his balance
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Your question doesn't say what are the options, but we can make some reasoning.

The average daily balance method is based, obviously, on the <span>average daily balance, which is the average balance for every day of the billing cycle. Therefore, in order to calculate the average daily balance, you need to sum the balance of every day and then divide it by the days of the billing cycle.
In your case:
ADB = (9</span>×2030 + 21×1450) / 30 = 1624 $

Now, in order to calculate the interest, you should first calculate the daily rate, since APR is usually defined yearly, and therefore:
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Finally, the expression to calculate the interest could be:
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or else:
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In your case:
interest = 1624 </span>× 0.23 ÷ 365 × 30
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