Credit Card Charges Part 1 | How to Find Average Daily Balance, Interest and Minimum Amount Due
Channel: MathHub TV
Date: 2021-03-21

In this video lesson entitled Credit Charges Explained, I am going to teach how to find the average daily balance, interest and minimum amount due of credit cards.  This is one of the lessons in Contemporary Mathematics.  For your convenience, feel free to use the timestamps.  

We will be discussing a particular credit bill statement and do that following:
1. Find the average daily balance for the billing period.
2.  Find the interest to be paid on the next billing date.
3.  Find the balance due.
4.  Find the minimum amount due.
 
⏲️ Timestamps ⏲️
Introduction (0:00)
What are credit cards (0:02)
How to Compute for the Interest: Average Daily Balance Method (1:44)
Example Problem (2:15)


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