Let's go through the calculations step-by-step.

(a) Fill in the table

Step 1: Determine the Unpaid Balance After Each Transaction

1. December 1 - Beginning Balance:

   • Balance: $1600.25
   • Number of days at this balance: 5 days (December 1 through December 5)
   • $1600.25 \times 5 = 8001.25$

2. December 6 - Purchase of $84.06:

   • New balance: $1600.25 + 84.06 = 1684.31$
   • Number of days at this balance: 3 days (December 6 through December 8)
   • $1684.31 \times 3 = 5052.93$

3. December 9 - Purchase of $310.90:

   • New balance: $1684.31 + 310.90 = 1995.21$
   • Number of days at this balance: 13 days (December 9 through December 21)
   • $1995.21 \times 13 = 25937.73$

4. December 22 - Payment of $350.00:

   • New balance: $1995.21 - 350.00 = 1645.21$
   • Number of days at this balance: 10 days (December 22 through December 31)
   • $1645.21 \times 10 = 16452.10$

Step 2: Calculate the Total

Add the values from each row: $8001.25 + 5052.93 + 25937.73 + 16452.10 = 55444.01$

(b) Find the Average Daily Balance

$\text{Average Daily Balance} = \frac{\text{Total of (Unpaid Balance} \times \text{ Number of Days)}}{31} = \frac{55444.01}{31} \approx 1788.52$

(c) Calculate the Interest Charged

The credit card company charges 1.5% interest on the average daily balance: $\text{Interest} = 1788.52 \times 0.015 \approx 26.83$

(d) Calculate Greg's Beginning Balance for January

Add the interest to the ending balance on December 31: $1645.21 + 26.83 = 1672.04$

Summary of Answers

• (a) Completed table with calculations.
• (b) Average daily balance: $1788.52
• (c) Interest charged: $26.83
• (d) Beginning balance for January: $1672.04

Would you like more details or clarification on any part of this solution?

Here are five questions to deepen understanding:

1. What factors influence the average daily balance on a credit card?
2. How does making a payment midway through the billing cycle affect the interest charged?
3. Why might it be beneficial to pay off part of the balance early in the billing cycle?
4. How would the interest change if the average daily balance were lower?
5. What is the impact of higher interest rates on credit card balances over time?

Tip: To minimize interest charges on a credit card, try to make multiple payments throughout the billing cycle, especially after significant purchases.