Problem
Tallolah has a credit card through BestBank. Her credit card has a $5,000.00 limit and has a 15% APR. Her balance at the end of the April is $350.00. Her average daily balance was $88.00.
If Tallolah pays the entire balance, how much interest will be added to her next bill?
If Tallulah pays $50 (of the $350 bill), how much interest will be added to her next bill if her bank uses the unpaid balance method?
If Tallolah pays $50 (of the $350 bill), how much interest will be added to her next bill if her bank uses the average daily balance method?