In the month of april your credit card which is charging, Ask an Expert

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In the month of April your credit card (which is charging you 9.9% + the current prime interest rate which is 3.25%) has a balance of $1,000. On April 3rd you charge $100 then on April 20th you put 15 gallons of gas on the card, when gas is $2.81. ON April 23rd your payment of $400 arrives and is posted to your account. Finally, on April 27th you charge all of your food for the month for your family of 4 when monthly food cost is $1114.40 What is your average daily balance at the end of the month on your card?

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