Question

Consider the following credit card activity for the month of September: Date Balance Number of Days September 1 $276 8 September 9 $359 3 September 12 $471 9 September 21 $584 5 September 26 $652 5 If this card's annual APR is 24.76% and the balance is not paid during the grace period, what is the total amount owed for September? Round your answer to the nearest dollar.

          Consider the following credit card activity for the month of September:
Date	Balance	Number of Days
September 1	$276	8
September 9	$359	3
September 12	$471	9
September 21	$584	5
September 26	$652	5
If this card's annual APR is 24.76% and the balance is not paid during the grace period, what is the total amount owed for September?
Round your answer to the nearest dollar.

Consider the following credit card activity for the month of September:
Date Balance Number of Days
September 1 276 8
September 9359 3
September 12 471 9
September 21584 5
September 26 652 5
If this card's annual APR is 24.76% and the balance is not paid during the grace period, what is the total amount owed for September?
Round your answer to the nearest dollar.

Added by Robert B.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Akash M

10/15/2023

Step 1

The weighted average daily balance is calculated by multiplying each balance by the number of days it was outstanding, summing these products, and dividing by the total number of days in September. In this case, September has 30 days. $(276 \times 8) + (359 Show more…

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Consider the following credit card activity for the month of September: Date Balance Number of Days September 1 $276 8 September 9 $359 3 September 12 $471 9 September 21 $584 5 September 26 $652 5 If this card's annual APR is 24.76% and the balance is not paid during the grace period, what is the total amount owed for September? Round your answer to the nearest dollar.