Elizabeth went on a fabulous vacation in May and racked up a lot of charges on her credit card. When it came time to pay her June credit card​ bill, she left a balance of $1160.00. ​Elizabeth's credit...














Elizabeth went on a fabulous vacation in May and racked up a lot of charges on her credit card. When it came time to pay her June credit card​ bill, she left a balance of
$1160.00.

​Elizabeth's credit card billing cycle runs from the 19th of each month to the 18th of the next​ month, and her interest rate is
18.5%.

She started the billing cycle June​ 19-July 18 with a previous balance of
$1160.00.

In addition she made three​ purchases, with the dates and amounts shown in the table to the right. On July 15 she made an online payment of
$480.00

that was credited to her balance the same day. Complete parts a through
c.































Date


Amount of​ purchase/payment


​6/21



​$180.39



​6/30



​$50.00



​7/5



​$94.58



​7/15


Payment
​$



a. Find the average daily balance on the credit card account for the billing cycle June​ 19-July 18.


The average daily balance for the billing cycle is
​$nothing.


​(Round to the nearest cent as​ needed.)

b. Compute the interest charged for the billing cycle June​ 19-July 18.

c. Find the balance on the account at the end of the June​ 19-July 18 billing cycle.

round to the nearest cent as needed.


Please do it right. Please!!!!!


Jun 06, 2022
SOLUTION.PDF
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here
Have files?