Question

On the May 1 billing date, Mary had a balance due of $970.60 on her credit card. The transactions during the following month were:
May 5 Payment $400.00
May 10 Charge: airline tickets $381.00
May 22 Charge: hotel $270.60
May 25 Charge: florist $60.20

The interest rate on the card is 1.2% per month. Using the average daily balance method, find the finance charge and balance due on June 1.

Using the Table format

(1) DATE
(2) CHARGE
(3) PAYMENT
(4) BALANCE
(5) No.OF BALANCE DAYS DOES NOT CHANGE
(6) BALANCE* No. of Days

May 1 Balance is 970.60
May 5 (3)Payment 400 and (4)balance = 570.60 what will be number 5 and 6
May 10 (2)Charge 381 and (4)balance = 951.60 what will be number (5) and (6)
May 22 (2)Charge 270.60 and (4)balance = 1222.20 what will be number (5) and (6)
May 25 (2)Charge 60.20 and (4)balance = 1282.40 what will be number (5) and (6)


Please Help



Can Please someone check if i did this right

970.60*4 = 3882.4
970.60-400 = 570.60 * 5 =2853
570.6+381 = 951.6*12 = 11419.2
951.6+270.6=1222.20*3 = 3666.6
1222.2+60.2 = 1282.40*7 = 8976.80

total AVD = 30798/31 = 993.48
Finance charge = 993.48*0.012 = 11.92

Answer 1

a.$5.30