A credit card calculates interest using the average daily balance method. The ca

Question

A credit card calculates interest using the average daily balance method. The card charges 19.0% annual interest rate on the average daily balance. The following transactions occurred during the June 1

A credit card calculates interest using the average daily balance method. The card charges 19.0% annual interest rate on the average daily balance. The following transactions occurred during the June 1 ??? June 30 billing period. Transaction Description Transaction Amount Previous balance, $2653.49 June 1 Billing date June 6 Payment $1300.00 credit June 8 Charge: Gas $34.38 June 9 Charge: Groceries $138.16 June 17 Charge: Gas $41.36 Charge: Groceries $128.21 June 27 Charge: Clothing $214.67 June 30 End of billing period Payment Due Date: July 9 The balance at the end of June was $1,910.27, and the interest to be paid on July 1 is $28.20. Find the balance due on July 1. Round to the nearest cent as needed.

Explanation / Answer

my answer is 1500000

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