A credit card calculates interest using the average daily balance method. The card charges 23.4% annual interest rate on the average daily balance. The following transactions occurred during the March 1 – March 31 billinhttps://courses.knewton.com/remote/api/content//KH_ASU_MAT142_Finance_9.3_TestOut1_tg19_regen1.GIFg period.
The average daily balance for the billing period is $6,149.68. Find the interest to be paid on April 1, the next billing date. Round to the nearest cent.

Question

A credit card calculates interest using the average daily balance method. The card charges 23.4% annual interest rate on the average daily balance. The following transactions occurred during the March 1 – March 31 billinhttps://courses.knewton.com/remote/api/content//KH_ASU_MAT142_Finance_9.3_TestOut1_tg19_regen1.GIFg period.
The average daily balance for the billing period is $6,149.68. Find the interest to be paid on April 1, the next billing date. Round to the nearest cent.