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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 1.5% of the average daily balance. Calculate parts a-d using the
statement in the popup.
Click the icon to view the credit card statement.
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a. Find the average daily balance for the billing period. Round to the nearest cent
The average daily balance for the billing period is [tex]$ 1969.40 (Round to the nearest cent as needed.) b. Find the interest to be paid on July 1, the next billing date. Round to the nearest cent. The interest to be paid on July 1 is $[/tex] 29.54
(Use the answer from part a to find this answer. Round to the nearest cent as needed.)
c. Find the balance due on July 1.
The balance due on July 1 is [tex]$ 2136.36 (Use the answer from part b to find this answer.) d. This credit card requires a $[/tex]30 minimum monthly payment if the balance due at the end of the billing period is less
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than [tex]$400. Otherwise, the minimum monthly payment is 25 of the balance due at the end of the billing period. rounded up to the nearest whole dollar. What is the minimum monthly payment due by July 9? The minimum monthly payment is $[/tex]
(Use the answer from part c to find this answer. Round up to the nearest dollar.)
Incor
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