You had a $1,500 dollar balance last month after you paid on your credit card. You charged a Gazebo on the 10th for $1100 (aluminum top model). Your card has a minimum finance charge of $3.00 a month and 12% APR. What is the balance due at the end of the month using the Average Daily Method

You had a $1,500 dollar balance last month after you paid on your credit card. You charged a Gazebo on the 10th for $1100 (aluminum top model). Your card has a minimum finance charge of $3.00 a month and 12% APR. What is the balance due at the end of the month using the Average Daily Method

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 11EB: Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase,...

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You had a $1,500 dollar balance last month after you paid on your credit card. You charged a Gazebo on the 10^th for $1100 (aluminum top model). Your card has a minimum finance charge of $3.00 a month and 12% APR.

What is the balance due at the end of the month using the Average Daily Method

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