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Marcos Has a Revolving Credit Account at an Annual Percentage

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Marcos has a revolving credit account at an annual percentage rate of 15%. Use the average daily balance method to find the new balance given the following statement of account:  STATEMENT OF ACCOUNT Billing cycle: January 1-31  January 1  Previous month’s balance $496.25 January 9 Payment 73.80 January 15  Sonoma Vineyards (credit) 115.68 January 21  Pets Plus 120.80 January 29  Flying Express 66.93\begin{array}{l}\text { STATEMENT OF ACCOUNT Billing cycle: January 1-31 }\\\begin{array} { | l | l | l | } \hline \text { January 1 } & \text { Previous month's balance } & \$ 496.25 \\\hline \text { January } 9 & \text { Payment } & 73.80 \\\hline \text { January 15 } & \text { Sonoma Vineyards (credit) } & 115.68 \\\hline \text { January 21 } & \text { Pets Plus } & 120.80 \\\hline \text { January 29 } & \text { Flying Express } & 66.93 \\\hline\end{array}\end{array}

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