A credit card calculates interest using the average daily balance method. The card charges 19.0% annual interest rate on the average daily balance. The following transactions occurred during the June 1 – June 30 billing period.

Find the average daily balance for the billing period. Round to the nearest cent.

Question

A credit card calculates interest using the average daily balance method. The card charges 19.0% annual interest rate on the average daily balance. The following transactions occurred during the June 1 – June 30 billing period.


Find the average daily balance for the billing period. Round to the nearest cent.

anonymous · Answer

May you show your work ?

anonymous · Answer

bal-june 1:  2653.49. june 6: 1353.49. june 8:1387.87. june 9: 1526.03. june 17: 1567.39. june 27: 1782.06. add all that divide by 30 i got 342.34

anonymous · Answer

-Make a list of the 30 days in June and write down the balance on each day.  Add up all those values and divide by 30.

anonymous · Answer

yeah, that's what I did.

anonymous · Answer

Do you have an email? so I can send you the problems? it would be so much faster.

goformit100 · Answer

For Solving this Question, I would like to ask you that, do you have the detailed conception of : Simple Intrest

anonymous · Answer

no