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17 August, 07:30

The opening balance of the May billing cycle for Marco's credit card was $3659. If he makes a new purchase of $100 on the 20th of May and doesn't make any payments, what is his average daily balance?

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  1. 17 August, 09:49
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    Opening balance in May is 3659 ... and he makes a new purchase of 100 ... making his balance (3659 + 100) = 3759

    there are 31 days in May ... so the average daily balance is:

    3759/31 = 121.258 rounds to 121.26 <==
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