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What is new balance at the end of the month

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Problem 1: If your financial institution charges you on the adjusted daily balance method how much is the adjusted daily balance amount if you start out with a balance of $600.00, on day 13 you pay $175.00 towards the principal amount owed, on day 17 you purchase $50.00 of items and your card has an APR of 24%? Presume there are 30 days in the month. How much interest will you be charged and what is you new balance at the end of the month?

Reference no: EM132949821

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