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A credit card bill for $ 5 0 0 was issued on November 1 4 th . During the next billing cycle, a purchase of
A credit card bill for $ was issued on November th During the next billing cycle, a
purchase of $ was made on November th a payment of $ was made on November
th and another payment of $ was made on November th
a Calculate the average daily balance for the bill issued on December th
b Using your answer from part a calculate the finance charge on the bill issued on
December th Assume that the annual interest rate is
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