Revolving Credit Account
You have a revolving credit account at an annual percentage rate of 18%.
Use the average daily balance method to find the new balance given the following statement of account.
Billing cycle is June 1-30
June 2 ; ; ;previous month balance ; ; ; ;$264.74
June 6 ; ; ;purchase ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ;$54.95
June 12 ; ;payment ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; $112.00
June 15 ; ;biggie supermarket (credit) ; $43.47
June 28 ; ;purchase ; ; ; ; ; ; ; ; ; ; ; ; ; ; ; $130.98
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