Interest Spreadsheet Lab

In this lab you are to:

Create a spreadsheet that takes the following purchases and average daily balance data and finds the interest, total interest, average purchases, and "average" average daily balance.

Credit Card Spreadsheet Data:

Month	Purchases	Average Daily Bal.	Interest
January	100	100
February	200	150
March	100	150
April	2000	1100
May	100	1000
June	50	900

Now:

• Calculate the interest payment per month using a 1.5% per month rate.
• Calculate the average purchase per month,
• Calculate the "average" average daily balance per month,
• And calculate the total interest payments for the first 6 months.

Write a brief, formal letter to L.W. Seery of Seery Credit Corporation detailing the reason you deserve a higher credit limit (currently $2100). Import the chart into the letter using the clipboard.

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