Question
Ellies credit card bill was $3,900. Her average daily balance was $1,704. The APR is 18%. If she only pays $3,000 of the balance, how
Ellies credit card bill was $3,900. Her average daily balance was $1,704. The APR is 18%. If she only pays $3,000 of the balance, how much interest will be added if the bank uses the average daily balance method?
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
