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The opening balance of the January billing cycle for Megan's credit card was $4805. If she makes a new purchase of $300 on the 20th of January and doesn't make any payments, what is her average daily balance?

Respuesta :

Answer: Her average daily balance will be $628.30.

Step-by-step explanation:

Since we have given that

Amount of the opening balance of the January billing cycle for Megan's credit card = $4805

Average of 19 days will be

[tex]Average=\frac{4805}{19}=\$252.89[/tex]

On 20 th January she makes a new purchase = $300

Balance left is given by

[tex]4805-300=\$4505[/tex]

So, Average of 12 days will be

[tex]\frac{4505}{12}=\$375.41[/tex]

So, Total average daily balance of her will be

[tex]\$252.89+\$375.41\\\\=\$628.30[/tex]

Hence, her average daily balance will be $628.30.

Answer:

$4,911.45

Step-by-step explanation:

Apex

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