Find average daily balance for the credit card account

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Reference no: EM13837253

Find the average daily balance for the following credit card account. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge is interest is 1.5% per month on the average daily balance. Finally, find the new balance.

Previous balance $228.93

January 27 Billing date

February 9 Tennis-balls $11.08

February 13 Returns $26.54

February 20 Payment $29.00

February 25 Restaurant $71.19

Reference no: EM13837253

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