Katrina James' used her credit card in March to purchase groceries for $120.15 on 3/5, new tires for $260.65 on 3/15, and received a credit on 3/17 for $100.00. She made her monthly payment of
$50.00 on 3/6. The finance charge is computed at 2% of the average daily balance-new purchases
included. The billing period is from March 1-31. Katrina's previous balance was $220.15. What is
Katrina's new balance?
Dates
Payment
Purchas
e
Credi
End of Day
Balance
Number of
Days
Sum of
Balances