Kims credit card was not paid in full last month so she will pay a finance charge
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Kim’s credit card was not paid in full last month so she will pay a finance charge this month. She had an average daily balance of d dollars during this billing period, which had 31 days. The APR was p percent.
a. Express the APR as an equivalent decimal algebraically.
b. Express the monthly percentage rate as an equivalent decimal algebraically.
c. Express the finance charge algebraically.
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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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