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avatar+164 

The opening balance of the January billing cycle for Megan's credit card was $4805. If she makes a new purchase of $300 on the 20th of January and doesn't make any payments, what is her average daily balance?

 

A. $5,105.23

 

B. $4,955.00

 

C. $4,805.00

 

D. $4,911.45

 Mar 1, 2019
 #1
avatar+18449 
+2

Assuming her billing cycle starts on the 1st of the month

  

(20 days  x $4805   + 11 days ($4805 + $300)  )   /   31 days = $ 4911.45

 Mar 1, 2019
 #2
avatar+164 
+1

Thank You

 Mar 1, 2019

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