Cdionne6271
New member
- Joined
- Jun 23, 2021
- Messages
- 2
Your master card calculates interest using average daily balance method and the monthly interest rate is 2.1%. The itemized billing for the month of August is this:
Unpaid balance 8/1 $300
Payment received 8/9 $100
Purchase 8/10 $4500
Purchase 8/18 $350
Purchase 8/25 $350
Last day of billing 8/31
What is average daily balance?
Interest?
Ending balance for the month?
Min. Payment due is 1/36 of ending balance?
Unpaid balance 8/1 $300
Payment received 8/9 $100
Purchase 8/10 $4500
Purchase 8/18 $350
Purchase 8/25 $350
Last day of billing 8/31
What is average daily balance?
Interest?
Ending balance for the month?
Min. Payment due is 1/36 of ending balance?