Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions on the account for the month of June are given to the right. Assume an annual interest rate of 18%.
Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions on the account for the month of June are given to the right. Assume an annual interest rate of 18%.
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions on the account for the month of June are given to the right. Assume an annual interest rate of 18%.
.....
Month: June (30 days); previous month's balance:
$180
June 9
|
Made payment of
$85
|
June 11
|
Charged
$30
for gasoline |
June 14
|
Charged
$103
for skis |
June 22
|
Made payment of
$100
|
The finance charge is
$enter your response here.
(Round to the nearest cent as needed.)
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