ani69
11.01.2020 •
Mathematics
Use average daily balance method to answer the questions based on the information given.the account balance on april 1st is $50.51. on april 15th, a payment of $15.00 is made. what is the average daily balance for the account? what is the finance charge if the annual rate is 18%? what is the new account balance? average daily balance is charge is balance
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Ответ:
1) Average daily balance= $1.00
2) Finance Charge= $11.1
New Balance= $ 24.41
Step-by-step explanation:
1) Average daily balance is $15.00/ 15 days = $ 1.00
2) Finance Charge is calculated using the formula= $ 15 *18 *15/365= $ 11.1
New Balance : = $50.51- $ 15.00- $ 11.1= $ 24.41
Ответ: