Calculate the average daily balance (assume a 30-day billing cycle):
$\begin{array} { l l l }
4 / 20 & \text { Billing Date Previous Balance } & \$ 700 \
4 / 26 & \text { Payment } & \$ 200 \
4 / 30 & \text { Charge } & \$ 400 \
5 / 4 & \text { Payment } & \$ 150 \
5 / 12 & \text { Cash Advance } & \$ 180
\end{array}$

Question

Calculate the average daily balance (assume a 30-day billing cycle):
$\begin{array} { l l l } 
4 / 20 & \text { Billing Date Previous Balance } & \$ 700 \
4 / 26 & \text { Payment } & \$ 200 \
4 / 30 & \text { Charge } & \$ 400 \
5 / 4 & \text { Payment } & \$ 150 \
5 / 12 & \text { Cash Advance } & \$ 180
\end{array}$

Quizplus · Accepted Answer

The Answer of Calculate the average daily balance (assume a 30-day billing cycle):
$\begin{array} { l l l } 
4 / 20 & \text { Billing Date Previous Balance } & \$ 700 \
4 / 26 & \text { Payment } & \$ 200 \
4 / 30 & \text { Charge } & \$ 400 \
5 / 4 & \text { Payment } & \$ 150 \
5 / 12 & \text { Cash Advance } & \$ 180
\end{array}$

Calculate the Average Daily Balance (Assume a 30-Day Billing Cycle)