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Megan has a Visa credit card. Assume 30-day billing cycle. Annual interest rate r = 18%. Assume 30-day billing cycle. Round to nearest cent. November

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Megan has a Visa credit card. Assume 30-day billing cycle. Annual interest rate r = 18%. Assume 30-day billing cycle. Round to nearest cent. November activity: November 0: beginning balance = $710.25 November 3: purchase = $78.90 November 5: purchase - $14.60 November 9: payment = $500.00 credit November 11: purchase = $36.50 November 12: purchase = $232.80 November 15: refund - $65.77 credit November 21: purchase = $9.00 November 25: purchase = $28.40 November 28: purchase = $45.25 November 30: end of billing period (a) Complete the table. Weighted # Days Nov. Starting Daily Activity Amount Ending Daily Balance Balance Balance Type $710.25 3-0=3 $2,130.75 0 $710.25 3 710.25 purchase 78.90 5 9 11 12 15 21 25 28 30 Sum: 30 (b) Compute average daily balance. starting balance + purchases - Credits + finance charge = end-of-month balance () Compute finance charge at APR = 18% (monthly APR = 1.5%). (d) Compute end-of-month balance

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