For the credit card account assume one month between billing

For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.5% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: exist765.27 July 7 Billing Date July 15 Payment exist200 July 28 Lunch exist44.59 August 2 Concert tickets exist67.80 (a) The average daily balance is exist. (Round to the nearest cent as needed.)

Solution

(c ) The account balance for the next billing is $ 677.27+$ 9.66 = $ 686.93