question archive You have a revolving credit account at an annual percentage rate of 18%

You have a revolving credit account at an annual percentage rate of 18%

Subject:MathPrice:4.87 Bought7

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:

STATEMENT OF ACCOUNT Billing cycle: June 1 – 30
June 2 Previous month's balance $264.74
June 6 Kim's Paints 54.95
June 12 Payment 112.00
June 15 Biggie Supermarket (credit) 43.47
June 28 Lamont's Bikes 130.98
The Answer
  a. $298.51  
 
  b. $275.84  
  c. $182.96  

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