Question

Here is Carmen's credit card statement for the month of July. (a) Use the credit card statement to help fill in the table below. Note that there are 31 days in July. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. (b) Find the average daily balance. Write your answer to the nearest cent. (c) Suppose the credit card company charges an interest rate of 1.7% on the average daily balance for July found in part (b). How much interest will be charged? Write your answer to the nearest cent. (d) What will Carmen's beginning balance be for the month of August (including the interest for July found in part (c))?

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