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work: 8.8 HW-
it Cards
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HW
Question 8, 8.8.3
Part 1 of 4
9.25 of 13 points
Points: 0.25 of 1
The credit card with the transactions described in the popup below uses the average daily
balance method to calculate interest. The monthly interest rate is 1.2% of the average
daily balance. Calculate parts a-d using the statement in the popup.
Click the icon to view the credit card statement.
a. Find the average daily balance for the billing period. Round to the nearest cent.
The average daily balance for the billing period is $
(Round to the nearest cent as needed.)
Credit Card Statement
Transaction Description
Transaction Amount
Previous balance, $2653.53
June 1
Billing date
June 6
Payment
$1200.00 credit
June 8
Charge: Gas
$35.18
June 9
Charge: Groceries
$137.06
June 17
Charge: Gas
$41.57
Charge: Groceries
$125.38
June 27
Charge: Clothing
$215.27
June 30 End of billing period
Payment Due Date: July 9
Print
Done
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