Question

From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customer’s concern.

28-day billing cycle
3/18	Billing date	$	664		Previous balance
3/24	Payment	$	49		cr.
3/29	Charge: Sears		233
4/5	Payment		17		cr.
4/9	Charge: Macy’s		180

Answer 1