Question
Lauras credit card has an APR of 12.04%, and it computes finance charges using the daily balance method and a 30-day billing cycle. On June
Lauras credit card has an APR of 12.04%, and it computes finance charges using the daily balance method and a 30-day billing cycle. On June 1st, Laura had a balance of $606.40. She made exactly one transaction in June: a payment of $55.25. If Lauras finance charge for June was $5.71, on which day did she make the payment?
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Cases in Finance
Authors: Jim DeMello
3rd edition
1259330476, 1259330478, 9781259352652 , 978-1259330476
