The unpaid balance at the start of a 30-day billing cycle was $721.98. A purchase...
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Accounting
The unpaid balance at the start of a 30-day billing cycle was $721.98. A purchase of $41.45 was made on day 14. No payment was made during the billing cycle and a late fee of $42 was charged to the account on day 27. Find the unpaid balance at the end of the billing cycle. Assume that the annual interest rate on a credit card is 19.44% and interest is calculated by the average daily balance method. The unpaid balance at the end of the billing cycle is? (Round to the nearest cent as needed.)
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