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From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67.
From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customers concern.
| 28-day billing cycle | ||||||||
| 3/18 | Billing date | $ | 800 | Previous balance | ||||
| 3/24 | Payment | $ | 60 | cr. | ||||
| 3/29 | Charge: Sears | 250 | ||||||
| 4/5 | Payment | 20 | cr. | |||||
| 4/9 | Charge: Macys | 200 | ||||||
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CFA Program Curriculum 2020 Level II Volumes 1-6
Authors: CFA Institute
1st Edition
194644295X,1119593611
