The average daily balance for the month was $84.21, and the finance charge for the month was $30.13.
<h3><u>Averages</u></h3>
Given that Sally's balance on her credit card is $75.00 on the first day of August, and she makes a payment of $18.00 on August 17 and a new purchase of $41.00 on August 29, and the annual interest rate is 21.25%, to determine what is Sally's average daily balance and finance charge for the month of August, the following calculation must be made:
- 75 x ((21.15/12 x 16) / 100) + 75 = A = 86.89
- 57 x ((21.15/12 x 13) / 100) + 57 = B = 70.06
- 98 x ((21.15/12 x 3) / 100) + 98 = C = 103.18
- (86.89 x 16 + 70.06 x 13 + 103.18 x 3) / 31 = X
- 84.21 = X
- 86.89 + 70.06 + 103.18 - 75 - 57 - 98 = Y
- 30.13 = Y
Therefore, the average daily balance for the month was $84.21, and the finance charge for the month was $30.13.
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6/7 because 48 divided by 8 is 6 and 56 divided by 8 is 7
Let’s see, for 6 servings he needed 4 carrots, meaning every carrot was equal to 1.5 servings. 15/1.5 is 10, 10 carrots for 15 servings.
You have to take $8,550 times 0.12 (12%) to find out the number it is being decreased by.
8,550 x 0.12 = 1,026
And then, you have to subtract 1,026 from 8,550 three times for three years and your answer becomes 5,472.
$5,472
