consumer mathematics

[logistic_guy]

A credit card’s billing period begins on the 12th day of each month. The activity on the card for the billing period beginning April 12 is summarized in the table below. Fill in the missing table components to calculate the ADB for this billing period.

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	​	​
April 14​	Charged $128.53​	​	​	​
April 29​	Paid $500.00​	​	​	​
May 7​	Charged $62.45​	​	​	​
May 9​	Charged $197.65​	​	​	​

\(\displaystyle \text{ADB} = \frac{\text{TOTAL (Balance)(Days)}}{\text{TOTAL Days}} = \)

 

[khansaheb]

A credit card’s billing period begins on the 12th day of each month. The activity on the card for the billing period beginning April 12 is summarized in the table below. Fill in the missing table components to calculate the ADB for this billing period.

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	​	​
April 14​	Charged $128.53​	​	​	​
April 29​	Paid $500.00​	​	​	​
May 7​	Charged $62.45​	​	​	​
May 9​	Charged $197.65​	​	​	​

\(\displaystyle \text{ADB} = \frac{\text{TOTAL (Balance)(Days)}}{\text{TOTAL Days}} = \)

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[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	\(\displaystyle \textcolor{red}{2}\)​	\(\displaystyle \textcolor{blue}{\$ 3,510.56}\)​
April 14​	Charged $128.53​	​	​	​
April 29​	Paid $500.00​	​	​	​
May 7​	Charged $62.45​	​	​	​
May 9​	Charged $197.65​	​	​	​

 

[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	2​	$3,510.56​
April 14​	Charged $128.53​	\(\displaystyle \textcolor{green}{\$1,883.81}\)​	\(\displaystyle \textcolor{red}{15}\)​	\(\displaystyle \textcolor{blue}{\$ 28,257.15}\)​
April 29​	Paid $500.00​	​	​	​
May 7​	Charged $62.45​	​	​	​
May 9​	Charged $197.65​	​	​	​

 

[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	2​	$3,510.56​
April 14​	Charged $128.53​	$1,883.81​	15​	$ 28,257.15​
April 29​	Paid $500.00​	\(\displaystyle \textcolor{green}{\$1,383.81}\)​	\(\displaystyle \textcolor{red}{8}\)​	\(\displaystyle \textcolor{blue}{\$ 11,070.48}\)​
May 7​	Charged $62.45​	​	​	​
May 9​	Charged $197.65​	​	​	​

 

[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	2​	$3,510.56​
April 14​	Charged $128.53​	$1,883.81​	15​	$ 28,257.15​
April 29​	Paid $500.00​	$1,383.81​	8​	$ 11,070.48​
May 7​	Charged $62.45​	\(\displaystyle \textcolor{green}{\$1,446.26}\)​	\(\displaystyle \textcolor{red}{2}\)​	\(\displaystyle \textcolor{blue}{\$ 2,892.52}\)​
May 9​	Charged $197.65​	​	​	​

 

[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	2​	$3,510.56​
April 14​	Charged $128.53​	$1,883.81​	15​	$28,257.15​
April 29​	Paid $500.00​	$1,383.81​	8​	$11,070.48​
May 7​	Charged $62.45​	$1,446.26​	2​	$2,892.52​
May 9​	Charged $197.65​	\(\displaystyle \textcolor{green}{\$1,643.91}\)​	\(\displaystyle \textcolor{red}{3}\)​	\(\displaystyle \textcolor{blue}{\$4,931.73}\)​

 

[logistic_guy]

Effective Date​	Activity​	Balance​	Days at Balance​	(Balance)(Days)​
April 12​	Start​	$1,755.28​	2​	$3,510.56​
April 14​	Charged $128.53​	$1,883.81​	15​	$28,257.15​
April 29​	Paid $500.00​	$1,383.81​	8​	$11,070.48​
May 7​	Charged $62.45​	$1,446.26​	2​	$2,892.52​
May 9​	Charged $197.65​	$1,643.91​	3​	$4,931.73​
\(\displaystyle \textcolor{green}{\bold{May \ 12}}\)​	​	​	\(\displaystyle \textcolor{red}{\bold{30}}\)​	\(\displaystyle \textcolor{blue}{\bold{\$50,662.44}}\)​

 

[logistic_guy]

Finally, we can use the formula:

\(\displaystyle \text{ADB} = \frac{\text{TOTAL (Balance)(Days)}}{\text{TOTAL Days}} = \frac{50662.44}{30} = \textcolor{blue}{\$1,688.75}\)