Calculate the average daily balance, finance charge, and new balance using the average daily balance method
monthly rate = 1.25%
date payments purchases balance number of days product/sum
9/1 - 9/5
$387.52
5 $1,937.60
976 $50.00
$337.52
1 $337.52
>
9/7 - 9/18
9/19
| $62.26
00
$399.78
9/20 - 9/30
+
total
the average daily balance
= 30 = $
finance charge = monthly rate x average daily balance -
new balance = previous balance - payment/credits + finance charge + new purchas