Question

find out the average balance of day ​

Answer 1

Answer:

The average daily balance method considers the total each day's balance over the billing cycle divided by the total number of days in the cycle. The outcome is multiplied by the interest rate to figure out the customer's finance charges. Finance charges are calculated by dividing the cardholder's APR by 12.

Answer 2

Answer:

The average daily balance method considers the total each day's balance over the billing cycle divided by the total number of days in the cycle. The outcome is multiplied by the interest rate to figure out the customer's finance charges. Finance charges are calculated by dividing the cardholder's APR by 12.

Step-by-step explanation:

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