Question
For the credit card account below, compute the average daily balance, the finance charge, and the account balance for the next billing. Assume the account
For the credit card account below, compute the average daily balance, the finance charge, and the account balance for the next billing. Assume the account is billed on the same date each month and that the annual interest rate is 19.2%. The finance charge for this credit card company is one month's interest on the average daily balance from September 11 through October 10. There are 30 days in September. Previous Balance: $511 September 11 Billing Date September 16 Cash Advance $110 September 22 Payment $118 September 30 Groceries $75 October 1 Mail Order $83 October 6 Returns $128 what is the Average Daily Balance, finance Charge, and Account Balance for the Next Billing?
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