Math 105001 Homework HW Ch 102 credit card 17 of 23 6 comple

Math 105-001 Homework: HW Ch 10.2 credit card 17 of 23 (6 complete) v Score: 0 of 15 pts Instructor-created question The following are the activities of a credit card for the following billing cylce. The interest rate is 17.3%. The billing cycle is from Sep 13 to Oct 12 Starting balance is $600 on Sep 13. On Sep 23 charge of $45. On Sep 24 payment of $60. On Oct 3 charge of$90.22. a) Fill in the table below. Easiest way is to fill in by columns b) Calculate the Averge Daily Balance. c) Calculate the Finance charge for this motnth\'s activities. d) Calculate the Final Balance on Jul 12 Dates Activity Balance of days Sep 13 s 600 Sep 23 Sep 24 Oct 3 Oct 12 Total number of days a b) Average Daily Balance is s Round to the nearest cent c) The Finance Charge is d) The Final Balance on Oct 12 is s Enter your answer in t fields and then click Check Answer All parts showing Clear All

Solution

Answer to 9th question:

(average daily balance × annual percentage rate × number of days in billing cycle) ÷ 365.
(562.35*0.222*31)÷ 365 = $10.60