Joseph Simpson, a student at State College, has an average balance of $380 on his retail charge

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Joseph Simpson, a student at State College, has an average balance of $380 on his retail charge card; if the store levies a finance charge of 21 percent per year, how much monthly interest will be added to his account?

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Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

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Question Posted: Jan 10, 2023 03:19 AM

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Joseph Simpson, a student at State College, has an average balance of $380 on his retail charge

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The monthly interest is the annual interest divided by 12 Thus an annu...View the full answer

Personal Financial Planning

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