A charge account had a balance of $979 on May 5. A purchase of $222 was made on May 17, and a payment of $175 was made on May 20. The interest on the average daily balance is 1.8% per month. Find the finance charge on the June 5 bill. (Round your answer to the nearest cent.)
A charge account had a balance of $979 on May 5. A purchase of $222 was made on May 17, and a payment of $175 was made on May 20. The interest on the average daily balance is 1.8% per month. Find the finance charge on the June 5 bill. (Round your answer to the nearest cent.)
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 1PB: Sub-Cinema Inc. borrowed $10,000 on Jan. 1 and will repay the loan with 12 equal payments made at...
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A charge account had a balance of $979 on May 5. A purchase of $222 was made on May 17, and a payment of $175 was made on May 20. The interest on the average daily balance is 1.8% per month. Find the finance charge on the June 5 bill. (Round your answer to the nearest cent.)
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