Question
You have a credit card that charges an interest rate of 1.8% compounded monthly. The table below shows your activity for the month of December.
You have a credit card that charges an interest rate of 1.8% compounded monthly. The table below shows your activity for the month of December.
| Date | Activity | Amount |
|---|---|---|
| December 1 | Beginning Balance | 1327.24 |
| December 9 | Purchase | 28.84 |
| December 10 | Payment | −150 |
| December 16 | Purchase | 97.76 |
| December 22 | Purchase | 14.56 |
| December 23 | Purchase | 54.47 |
| December 31 | Closing Date |
What is the statement balance due for December?
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Step: 1
Answer CALCULATION OF STATEMENT BALANCE WORKINGS December 1 Beginning ...
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Introduction to Algorithms
Authors: Thomas H. Cormen, Charles E. Leiserson, Ronald L. Rivest
3rd edition
978-0262033848
