The balance on Maria's credit card on May 10, the billing date, was $3,198.23. She sent in a $1,000 payment, which was posted on May 13, and made no other transactions during the billing cycle. Assuming the APR on the card is 7.9%, answer the following.

a) what is the average daily balance for the billing period?
b) how much is the finance charge for the billing period?
c) what will be the new balance when she receives her june 10 statement?

Question

The balance on Maria's credit card on May 10, the billing date, was $3,198.23. She sent in a $1,000 payment, which was posted on May 13, and made no other transactions during the billing cycle. Assuming the APR on the card is 7.9%, answer the following.

a) what is the average daily balance for the billing period?
b) how much is the finance charge for the billing period?
c) what will be the new balance when she receives her june 10 statement?