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3 1 POINT The average daily balance of a credit card for the month of January was $1600 and the unpaid balance at the end

3 1 POINT The average daily balance of a credit card for the month of January was $1600 and the unpaid balance at the end of the month was $1250. If the annual percentage rate is 20.4% of the average daily balance, what is the total balance on the next billing date, February 1? Round your answer to the nearest cent. Provide your answer below

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