Question: You have a credit card that charges a monthly interest rate of 2%. The table below shows your activity for the month of October. Date

You have a credit card that charges a monthly interest rate of 2%. The table below shows your activity for the month of October.

DateActivityAmount
October 1Beginning Balance869.09
October 6Purchase30.7
October 13Payment−869.09
October 17Purchase77.4
October 25Purchase15.64
October 26Purchase63.74
October 31Closing date


What is the interest charged on the unpaid balance from the previous month?
What is the statement balance due for the October billing period?

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