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John Smith has a credit card that charges 10% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle
John Smith has a credit card that charges 10% annual interest on the monthly average daily balance for the billing cycle. The current billing cycle has 30 days. For 14 days his balance was $2,516.01. For 9 days the balance was $1,516.01 and for 7 days the balance was $18778.18. FIND THE AVERAGE DAILY BALANCE &' FIND THE AMOUNT OF INTEREST.
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Fundamental Accounting Principles Volume 2
Authors: John Wild, Ken Shaw, Barbara Chiappetta
21st Edition
0077716663, 978-0077716660
