For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.2% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $753.66 July 6 Billing Date July 16 Payment July 25 Lunch August 5 Concert tickets. $300 $54.30 $77.60 (a) The average daily balance is $ (Round to the nearest cent as needed.). C
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.2% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $753.66 July 6 Billing Date July 16 Payment July 25 Lunch August 5 Concert tickets. $300 $54.30 $77.60 (a) The average daily balance is $ (Round to the nearest cent as needed.). C
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![For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.2% per month on the average daily
balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing.
Previous Balance: $753.66
July 6
Billing Date
July 16
Payment
July 25
Lunch
August 5 Concert tickets.
$300
$54.30
$77.60
(a) The average daily balance is $
(Round to the nearest cent as needed.).
C](https://content.bartleby.com/qna-images/question/d6606702-6867-4832-ad1a-8edd54929f43/642e8799-4b1b-460b-8588-cae6a85d3919/9oxfln_thumbnail.jpeg)
Transcribed Image Text:For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.2% per month on the average daily
balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing.
Previous Balance: $753.66
July 6
Billing Date
July 16
Payment
July 25
Lunch
August 5 Concert tickets.
$300
$54.30
$77.60
(a) The average daily balance is $
(Round to the nearest cent as needed.).
C
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