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In this problem, round all of your answers to the nearest cent. During the month...

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Accounting

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In this problem, round all of your answers to the nearest cent. During the month of December, Michael uses his credit card to purchase gifts for his friends and family. On December 1 , his card is fully paid and has a balance of $0, and by the end of December, his balance is $4100. His December statement is shown below. Calculate Michael's average daily balance. Michael's credit card charges 11.6% interest. Find the interest charge for the month of December. In January, Michael makes the minimum payment, which is 1% of his final balance plus interest and late fees. (Michael pays his bill on time, so he doesn't owe any late fees.) How much does he pay in January? What is Michael's balance after his January payment? Michael wants to pay off their credit card by next December by making equal payments for the next 10 months, starting in February. How much should each payment be? How much interest did Michael pay in the process of paying off the $4100 dollars he spent in December

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