The balance on the Smith's credit card on June 1, their billing date, was $378.50. for the period ending June
30, they had the following transactions:
June 2 Charge: Toys
June 8
Payment
June 15 Charge: Clothing
$129.79
$50.00
$135.85
June 28 Charge: Housewares $37.63
a.) Find the average daily balance for the billing period, which ends on June 30.
b.) What is the finance charge calculated on June 30?
The monthly periodic rate is 1.3%.
c.) What is the Smith's new credit card balance on July 1?
