has a that the. For the of of, was $350, and for the of the, was $520. If 's is 14%, which of these could be to calculate the was in for the?

Question

Social Studies

Adrianna Marsh

6 September, 06:57

has a that the. For the of of, was $350, and for the of the, was $520. If 's is 14%, which of these could be to calculate the was in for the?

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Answers (1)

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Krista · Answer 1

Using the average daily balance method, the amount to be used in calculating Theresa's interest is given by:

350x12+250x19/12+19 = 4200+9880/31

14080/31=454.19

Therefore, the interest charge on Theresa for the billing cycle is given by:

454.19x0.14/12 = 63.59/12

=$5.30