Question: Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use

Use the average daily balance method to compute the amount of interest

Use the average daily balance method to compute the amount of interest that will be charged at the end of the billing cycle. Use a 365-day year. Month: February (28 days) Previous month's balance: $1,230 Interest rate: 21% Date Transaction February 3 made payment of $330 February 12 purchase of $325 February 21 purchase of $37 February 22 purchase of $70

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