Mathematics, 29.07.2020 01:01, JvGaming2001

2. The table below shows the activity on the credit card statement of Miss Pepper Mills for the month of April. She started the month with a balance of $342.57. Date Activity Location Amount
04/05 Payment Payment $200.00
04/15 Charge Gas $26.37
04/22 Charge Macy's $105.42
04/25 Charge Starbuck's $4.24

a. Find the average daily balance.

b. If her card charges an 18.5% annual interest rate on her average daily balance, calculate Miss Pepper Mill’s finance charge for the month of April.

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Answers

The value of the average daily balance and the finance charge for Miss pepper mills are $123.732 and $0.32 respectively.

The average daily balance :

(Sum of balances) ÷ number of purchases

Sum of balances = (342.57+ (342.57-200) +(342.57 - 200 - 26.37) +(342.57-200-26.37-105.42) + (342.57-200-26.37-105.42-4.24)) = $618.66

Average daily balance :

(618.66) ÷ 5 = 123.732

Finance charge for April :

Monthly rate = 18.5% ÷ 12 = 1.541666%

Average balance × daily rate

Average balance = (618.66) ÷ 30 = 20.62220.622 * 1.5416666% = 0.32

Therefore, the average daily balance and finance charge are $123.732 and $0.32 respectively

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answered: iyeshaik

Miss Pepper Mills

Credit Card Statement for the month of April:

a. Average Daily Balance:

Average balance = $618.66/5 = $123.73

b. Calculation of Miss Pepper Mill's Finance Charge for the month of April:

Finance charge

= 18.5% of $20.55 x 1/12

= $0.32

Step-by-step explanation:

a) Data and Calculations:

Activity on the credit card statement for April

Beginning balance = $342.57

Date Activity Location Amount Daily Balance

04/01 Balance $342.57

04/05 Payment Payment $200.00 $142.57

04/15 Charge Gas $26.37 $116.20

04/22 Charge Macy's $105.42 $10.78

04/25 Charge Starbuck's $4.24 $6.54

30 days Total = $618.66

Average balance = Total of the daily balances divided by 30 days

= $618.66/30 = $20.55

answered: Guest

the system of inequity is

$y\leq -x+4$

$3y> x$

step-by-step explanation:

from the given graph it is noticed that we have two related lines. one is solid and another is dashed.

if a line passing through two points, then the equation of line is

$y-y_1=\frac{y_2-y_1}{x_2-x_1}(x-x_1)$

the solid line passing through the points (0,4) and (4,0).

$y-4=\frac{0-4}{4-0}(x-0)$

$y=-x+4$

the related equation of solid line is $y=-x+4$ .

similarly, find the related equation of dashed line. the dashed liune passing through the points (0,0) and (3,1).

$y-0=\frac{0-1}{3-0}(x-0)$

$3y=x$

the related equation of dashed line is $3y=x$

from the given graph it is noticed that the point (0,1) lies on the shaded region, therefore the point (0,1) must be satisfied by the related equations.

check the related equations by the point (0,1).

$1=-0+4$

$1=4$

this statement is true if the sign of inequality is < instead of equality. since it is an solid line therefore the sign of inequality will be $\leq$ . the required inequality is