Question

Niles Hunt received this information on the statement from his bank. Find the (a) average daily balance-new purchases included, (b) finance charge, and (c) new balance. Reference Posting Date Transaction Date Description Purchases & Advances Payments & Credits $ 75. 66 $100. 00 1238090 2789433 3459811 4334681 2/5 2/10 2/17 2127 2/13 2/8 2/15 2/24 Home repairs PAYMENT Discount store PAYMENT 198. 33 50. 00 Billing Period Previous Balance Periodic Rate Finance Charge Average Daily Balance | a. 2/01-2/28 $36. 54 | b. 2. 1% Payments & Credits Purchases & Advances New Balance Minimum Payment Payment Due $273. 99 1 Ic $150. 00 $10. 00 3/15​

Answer 1

Minimum payment due is 345