Question

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Answer 1

Step-by-step explanation:

The balance on a credit card, that charges an 18% APR interest rate, over a 1 month period is given in the following table:

Days 1-3: $150 (initial balance)

Days 4-20: $200 ($50 purchase)

Days 21-30: $50 ($150 payment)

What is the finance charge, on the average daily balance, for this card over this 1 month period?

round to the nearest hundredth

Answer 2

Step-by-step explanation:

The balance on a credit card, that charges an 18% APR interest rate, over a 1 month period is given in the following table:

Days 1-3: $150 (initial balance)

Days 4-20: $200 ($50 purchase)

Days 21-30: $50 ($150 payment)

What is the finance charge, on the average daily balance, for this card over this 1 month period?

round to the nearest hundredth