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On April 1, the balance on your credit card is $444.06. On April 5, you make a purchase for $37.15. On April 14, you make
On April 1, the balance on your credit card is $444.06. On April 5, you make a purchase for $37.15. On April 14, you make a payment of $115. On April 25, you make a purchase for $113.72. Assume the billing date is the 1st of the month and the monthly finance charge is 1.8%.
On April 1, the balance on your credit card is $444.06. On April 5 , you make a purchase for $37.15. On April 14, you make a payment of $115. On April 25 , you make a purchase for $113.72. Assume the billing date is the 1st of the month and the monthly finance charge is 1.8%. What is the average daily balance? \$ What is the monthly finance charge? \$ What is the balance at the start of the next month? $Step by Step Solution
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