Blair had these daily balances on his credit card for his last billing period. He did not
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Blair had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 18.6%.
2 days @ $331.98
11 days @ $1,203.04
4 days @ $996.71
13 days @ $1,002.76
a. What is the average daily balance? Round to the nearest cent.
b. What is the finance charge?
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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