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In: Accounting

Cody Lind’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Cody’s...

Cody Lind’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Cody’s average daily balance, finance charge and new balance. (Round your final answers to the nearest cent.)

30-day billing cycle
9/2 Billing date $1,060 previous balance
9/7 Payment $240 cr.
9/13 Charge: Kohl’s $420
9/17 Payment $270 cr.
9/28 Charge: WalMart 90
Average daily balance $
Finance charge $
New balance $

Solutions

Expert Solution

Computed as:

Note: In formulas worksheet date column change please consider the answer worksheet for column A.

ekkarill92 answered 2 years ago
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