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12.On September 5, the billing date, you had a balance of $567.20 on your credit card. Your interest rate is 1.1% per month. The
12.On September 5, the billing date, you had a balance of $567.20 on your credit card. Your interest rate is 1.1% per month. The transactions during the following month were Sept. 9 Payment $275.00 Sept. 21 Charge: Airline Ticket 330.00 Sept. 27 Charge: Hotel Bill 190.80 Oct. 2 Charge: Clothing 84.75 a) Find the finance charge on October 5, using the unpaid balance method. b) Find the new balance due on October 5. c) Find the average daily balance for the billing period from Sept. 5 to Oct 5. d) Find the finance charge on October 5, using the average daily balance. e) Find the new balance due on October 5. f) Which method benefits you the most?
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