John has a credit card with a 18% rate and uses the average daily balance method. His average daily balance was $285.26, he made $6483.76 in purchases and paid $538.08. His previous balance was $367.69. What is his new balance?
In this question when using the average daily balance method, are you not supposed to have dates to go by?
367.69+6483.76+66.16-538.08=6379.55 I know this is the wrong answer, right answer is 6,317.65, but I can not figure out how to get it.
In this question when using the average daily balance method, are you not supposed to have dates to go by?
367.69+6483.76+66.16-538.08=6379.55 I know this is the wrong answer, right answer is 6,317.65, but I can not figure out how to get it.