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    My credit card balance on April 1st was $40.

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    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?

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    Solution Preview

    I'm assuming the 2% you're referring to is the 'monthly' interest rate.
    From April 1st to ...

    Solution Summary

    The solution provides detailed explanations and solutions for the problem.

    $2.19

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