Revolving Credit Account

May 6th, 2015
Business Finance
Price: $5 USD

Question description

You have a revolving credit account at an annual percentage rate of 18%.
Use the average daily balance method to find the new balance given the following statement of account.

Billing cycle is June 1-30
June 2      previous month balance        $264.74
June 6      purchase                                $54.95
June 12    payment                                 $112.00
June 15    biggie supermarket (credit)   $43.47
June 28    purchase                               $130.98

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(Top Tutor) Beth L
School: New York University

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