Calculating credit card finance charge. Blake Miller recently received his monthly MasterCard bill for the period June
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Calculating credit card finance charge. Blake Miller recently received his monthly MasterCard bill for the period June 1–30, 2021, and wants to verify the monthly finance charge calculation, which is assessed at a rate of 15 percent per year and based on ADBs, including new purchases. His outstanding balance, purchases, and payments are as follows:
What are his ADB and finance charges for the period?
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Related Book For
Personal Financial Planning
ISBN: 9780357438480
15th Edition
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
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