Hellow guys, Welcome to my website, and you are watching Financial Math: Average Daily Balance Method for charging interest on open end credit (credit cards). and this vIdeo is uploaded by Ms. Hearn at 2020-01-20T07:06:29-08:00. We are pramote this video only for entertainment and educational perpose only. So, I hop you like our website.
| Name | Financial Math: Average Daily Balance Method for charging interest on open end credit (credit cards) |
| Video Uploader | Video From Ms. Hearn |
| Upload Date | This Video Uploaded At 20-01-2020 10:06:29 |
| Video Discription | Are you an @MzMath Fan?! Please Like and Subscribe. :-) And now you can BECOME A MEMBER of the Ms. Hearn Mathematics Channel to get perks! https://www.youtube.com/channel/UCm4yh0DoiOo4y8VcV0yeHcw/join In this video: At the beginning of a 31-day billing period, there is an unpaid balance of $780 on a credit card. Three days before the end of the billing period, a payment of $400 is made. In this video, we calculate the finance charge at 3.2% monthly interest using the average daily balance method. I use the TI30XIIS Calculator in the video. The exercise comes from the MyLabs Math homework associated with the textbook Mathematical Ideas. This is part of the Financial Mathematics chapter in a MGF1107 Survey of Mathematics course. |
| Category | Education |
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