In Problem assume that the annual interest rate on a credit card is 25.74% and interest is
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In Problem assume that the annual interest rate on a credit card is 25.74% and interest is calculated by the average daily balance method.
The unpaid balance at the start of a 28-day billing cycle was $955.13. A $5,000 purchase was made on the first day of the billing cycle and a $50 payment was credited to the account on day 21. How much interest will be charged at the end of the billing cycle?
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Related Book For 
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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