1. Other
  2. Other
  3. directions show your work and explain your reasoning using complete...

Question: directions show your work and explain your reasoning using complete...

Question details

Directions:

Show your work AND explain your reasoning using complete English sentences. Explanations must directly follow the solution for each part of the problem.

The table below shows the activity on the credit card statement of Miss Pepper Mills for the month of April. She started the month with a balance of $342.57.

Date Activity Location Amount
04/05 Payment Payment $200.00
04/15 Charge Gas $26.37
04/22 Charge Macy's $105.42
04/25 Charge Starbuck's $4.24

a. Find the average daily balance.

b. If her card charges an 18.5% annual interest rate on her average daily balance, calculate Miss Pepper Mill’s finance charge for the month of April.

Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution