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Study Guides > Math for Liberal Arts: Co-requisite Course

Assignment: Average Daily Balance

Click a the link below to download the assignment: “Credit Cards and Installment Buying” from Erie Community College. This assignment shows an example of an Average Daily Balance Method of Determining Interest Rate using credit cards and installment buying to illustrate its points. You will be asked to read a short passage describing how credit card interest is calculated that includes an example.  Please complete the two practice problems provided.

Download the assignment from one of the links below (.docx or .rtf):

Average Daily Balance: Word Document

Average Daily Balance: Rich Text Format