consumer mathematics computing the average daily balance, interest, and balance for a credit... try again…

consumer mathematics computing the average daily balance, interest, and balance for a credit... try again (d): your answer is incorrect. here is teresas credit - card statement for the month of january. date transaction transaction amount january 1 beginning balance $2280.10 january 7 purchase $700.50 january 14 payment $352.00 january 20 purchase $840.46 (a) use the credit - card statement to help fill in the table below. note that there are 31 days in january. also, a purchase increases the unpaid balance and a payment decreases the unpaid balance. date transaction transaction amount unpaid balance number of days at that balance unpaid balance×number of days january 1 beginning balance $2280.10 $2280.10 6 days (from january 1 through january 6) $13,680.60 january 7 purchase $700.50 $2980.60 7 days (from january 7 through january 13) $20864.20 january 14 payment $352.00 $2628.60 6 days (from january 14 through january 19) $15771.60 january 20 purchase $840.46 $3469.06 12 days (from january 20 through january 31) $41628.72 total: 31 days total: $91945.12 (b) find the average daily balance. write your answer to the nearest cent. $2965.97 (c) suppose the credit - card company charges an interest rate of 1.6% on the average daily balance for january found in part (b). how much interest will be charged? write your answer to the nearest cent. $47.46 (d) what will teresas beginning balance be for the month of february (including the interest for january found in part (c))? $3013.43

consumer mathematics computing the average daily balance, interest, and balance for a credit... try again (d): your answer is incorrect. here is teresas credit - card statement for the month of january. date transaction transaction amount january 1 beginning balance $2280.10 january 7 purchase $700.50 january 14 payment $352.00 january 20 purchase $840.46 (a) use the credit - card statement to help fill in the table below. note that there are 31 days in january. also, a purchase increases the unpaid balance and a payment decreases the unpaid balance. date transaction transaction amount unpaid balance number of days at that balance unpaid balance×number of days january 1 beginning balance $2280.10 $2280.10 6 days (from january 1 through january 6) $13,680.60 january 7 purchase $700.50 $2980.60 7 days (from january 7 through january 13) $20864.20 january 14 payment $352.00 $2628.60 6 days (from january 14 through january 19) $15771.60 january 20 purchase $840.46 $3469.06 12 days (from january 20 through january 31) $41628.72 total: 31 days total: $91945.12 (b) find the average daily balance. write your answer to the nearest cent. $2965.97 (c) suppose the credit - card company charges an interest rate of 1.6% on the average daily balance for january found in part (b). how much interest will be charged? write your answer to the nearest cent. $47.46 (d) what will teresas beginning balance be for the month of february (including the interest for january found in part (c))? $3013.43

Answer

Explanation:

Step1: Identify relevant amounts

The unpaid balance at the end of January is $3469.06$ and the interest for January is $47.46$.

Step2: Calculate February beginning balance

The beginning balance for February is the unpaid balance at the end of January plus the interest for January. So, $3469.06 + 47.46$. $3469.06+47.46 = 3516.52$

Answer:

$3516.52$