The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is

2.52.5​%

of the average daily balance. Calculate parts​ a-d using the statement on the right.

Transaction Description

Transaction Amount

Previous​ balance,

​$6230.006230.00

March 1 Billing date

March 5 Payment

​$300.00300.00

credit

March 7​ Charge: Restaurant

​$60.0060.00

March 12​ Charge: Groceries

​$90.0090.00

March 21​ Charge: Car Repairs

​$270.00270.00

March 31 End of billing period

Payment Due​ Date: April 9

Question content area bottom

Part 1

a. Find the average daily balance for the billing period. Round to the nearest cent.

The average daily balance for the billing period is

​$enter your response here.

​(Round to the nearest cent as​ needed.)

Part 2

b. Find the interest to be paid on April​ 1, the next billing date. Round to the nearest cent.

The interest to be paid on April 1 is

​$enter your response here.

​(Use the answer from part a to find this answer. Round to the nearest cent as​ needed.)

Part 3

c. Find the balance due on April 1.

The balance due on April 1 is

​$enter your response here.

​(Use the answer from part b to find this​ answer.)

Part 4

d. This credit card requires a​ $10 minimum monthly payment if the balance due at the end of the billing period is less than​ $360. ​ Otherwise, the minimum monthly payment is

StartFraction 1 Over 36 EndFraction136

of the balance due at the end of the billing​ period, rounded up to the nearest whole dollar. What is the minimum monthly payment due by April​ 9?