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13. A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. It requires a $10
13. A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. It requires a $10 minimum payment if the balance is less than $300. Otherwise the minimum payment is 1/36 of the balan at the end of the month. a) June 1st unpaid balance $950 June 3rd payment received $500 June 5th purchase made $250 June 15th purchase made $80 June 30th end of billing period July 9th payment due Find the average daily balance amount b) Find the interest due for the month c) Find the total balance owed on the last day of the billing period d) Find the minimum payment
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