What is the average daily balance on a credit card

Asked by admin @ 29/10/2021 in Mathematics viewed by 287 People

The average daily balance of a credit card for the month of November was $700, and the unpaid balance at the end of the month was $1,400. If the monthly interest rate is 1.3% of the average daily balance, what is the total balance on the next billing date December 1? Round your answer to the nearest cent.

Answered by admin @ 29/10/2021

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