1. Helene’s credit card has an APR of 16.8%. She never pays her balance in full, so she always pays a finance charge. Her next billing cycle starts today. The billing period is 30 days. Today’s balance is $712.04. She is only going to use the credit card this month to make a $5,000 down payment on a new car.

a. Find her average daily balance for the 30-day period if she puts the down payment on the credit card today.

b. Find the finance charge for this billing period based on the average daily balance from part a.

c. Find her average daily balance for the 30-day period if she puts the

Question

1. Helene’s credit card has an APR of 16.8%. She never pays her balance in full, so she always pays a finance charge. Her next billing cycle starts today. The billing period is 30 days. Today’s balance is $712.04. She is only going to use the credit card this month to make a $5,000 down payment on a new car.

a. Find her average daily balance for the 30-day period if she puts the down payment on the credit card today.

b. Find the finance charge for this billing period based on the average daily balance from part a.

c. Find her average daily balance for the 30-day period if she puts the