Given the following: 30-Day billing cycle and 1.5% interest charge per month. 9/1 Balance $1,500. 9/8 Charge

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Given the following: 30-Day billing cycle and 1.5% interest charge per month. 9/1 Balance $1,500. 9/8 Charge $300. 9/20 Payment $1,000.

What is the average daily balance on 10/01?

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Financial Algebra Advanced Algebra With Financial Applications

ISBN: 9781337271790

2nd Edition

Authors: Robert Gerver, Richard J. Sgroi

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Posted Date: Apr 06, 2024 01:19 AM

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Given the following: 30-Day billing cycle and 1.5% interest charge per month. 9/1 Balance $1,500. 9/8 Charge

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To calculate the average daily balance on October 1st we need to determine the daily balanc... View the full answer

Financial Algebra Advanced Algebra With Financial Applications

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