On the December 8 billing date, Guy 1 had a balance of $639.17 on his credit card. The transactions during the following month were:
December 10: Charge - $173.22
December 12: Payment - $103.70
January 3: Charge - $59.65
The interest rate is 1.1% per month. Using average daily balance method, find the balance due on January 8.

Question

On the December 8 billing date, Guy 1 had a balance of $639.17 on his credit card. The transactions during the following month were:
December 10: Charge - $173.22
December 12: Payment - $103.70
January 3: Charge - $59.65
The interest rate is 1.1% per month. Using average daily balance method, find the balance due on January 8.

anonymous · Answer

639.17
-173.22
__________
x

•1.1

x
+103.70
___________
x
•1.1

x
- 59.65
_________
x
•1.1

:D Ta-da!

anonymous · Answer

I'm kind of confused as to how to read this format.

anonymous · Answer

sorry i'm a noob

anonymous · Answer

sorry the • means multiply by. 
My bad. 
You're doing fine. 
x is the unknown