Mathematics, 08.12.2020 02:00, rakanmadi87

Joni Jone’s credit card statement arrived for the billing period of 7/28 through 8/27. Her previous balance was $1200. On 8/3 a new purchase of $100 was posted. On 8/10 her $500 payment was posted. On 8/20 she made an additional purchase of $450. No additional activity occurred during the billing cycle. The periodic rate is 18%. What is the new balance ? Use the average daily balance method where new purchases were included.

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Joni Jone’s credit card statement arrived for the billing period of 7/28 through 8/27. Her previous...