You have a credit card that charges an interest rate of 5.8% compounded monthly.
The table below shows your activity for the month of April.
What is the average daily balance for this account?
$
How much interest is owed this month?
$
How much total money is owed at the end of the month?
$
| Date | Activity | Amount | Balance |
|---|---|---|---|
| April 1 | Beginning Balance | 550.00 | |
| April 2 | Purchase | 47.30 | 597.30 |
| April 15 | Payment | −175.00 | 422.30 |
| April 19 | Purchase | 83.50 | 505.80 |
| April 22 | Purchase | 12.00 | 517.80 |
| April 28 | Purchase | 26.90 | 544.70 |
| April 30 | Ending Balance | 544.70 |
What is the average daily balance for this account?
$
How much interest is owed this month?
$
How much total money is owed at the end of the month?
$