ah has a credit card through BestBank. Her credit card has a $5,000.00 limit and a 15% APR. Her balance at the end of the April is $350.00. Her average daily balance was $88.00. If Tallolah pays $50 (of the $350 bill), how much interest will be added to her next bill if her bank uses the average daily balance method?

ah has a credit card through BestBank. Her credit card has a $5,000.00 limit and a 15% APR. Her balance at the end of the April is $350.00. Her average daily balance was $88.00. If Tallolah pays $50 (of the $350 bill), how much interest will be added to her next bill if her bank uses the average daily balance method?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 79P

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Tallolah has a credit card through BestBank. Her credit card has a $5,000.00 limit and has a 15% APR. Her balance at the end of the April is $350.00. Her average daily balance was $88.00. If Tallolah pays the entire balance, how much interest will be added to her next bill? If Tallulah pays $50 (of the $350 bill), how much interest will be added to her next bill if her bank uses the unpaid balance method?
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