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April 20, 2014

April 20, 2014

Posted by **andrea** on Thursday, November 24, 2011 at 12:39pm.

7-21 billing date previous balance $400

7-28 payment $40 credit

7-31 charge $60

8-6 payment $10 credit

8-13 cash advance $50

- math -
**drwls**, Thursday, November 24, 2011 at 2:12pmOn 7-21 the balance is $400.

It remains $400 for 7 days

On 7-28 the balance becomes $360

It remains $360 for 3 days.

On 7-31 the balance becomes $420

It remains $420 for 6 days

On 8-6, the balance becomes $410

It remains $410 for 7 days

On 8-13 the balance becomes $460

It it remains $460 until the end of the billing cycle (for 7 days)

Average balance =

[400*7 + 360*3 + 420*6 +410*7 +460*7]/30

= $416.33

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