Calculate (A)the Average Daily Balance and (B)the Finance Charge If

question 19

Short Answer

Calculate (A)the average daily balance and (B)the finance charge if finance charge is 2 % on average daily balance.
$\begin{array}{l}29 \text { Day Billing Cycle }\\\begin{array} { l l r } 11 / 20 & \text { Prev Balance } & \$ 1,000 \\11 / 27 & \text { Payment } & \$ 200 \\11 / 30 & \text { Charge } & \$ 150 \\12 / 9 & \text { Payment } & \$ 250 \\12 / 14 & \text { Cash Adv } & \$ 400\end{array}\end{array}$

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