Calculate the average daily balance and finance charge, Finance Basics

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Calculate the average daily balance and finance charge

Question: Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 1,500 9/19 Payment $ 55 cr. 9/30 Charge: Home Depot 1,250 10/3 Payment 55 cr. 10/7 Cash advance 65 Finance charge is 1.5% on average daily balance. Average daily balance $ Finance charge $

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Finance Basics: Calculate the average daily balance and finance charge

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