My credit card balance on April 1st was $40. On April 7th, I made a $10 payment and on April 25th I charged a $25 item. The credit card company charges a finance charge of 2% on the average daily balance. On May 1st what will my balance be?© BrainMass Inc. brainmass.com June 3, 2020, 8:10 pm ad1c9bdddf
I'm assuming the 2% you're referring to is the 'monthly' interest rate.
From April 1st to ...
The solution provides detailed explanations and solutions for the problem.