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On August 1, the balance on your credit card is $873.15. On August 8, you make a purchase for $74.82. On August 15, you make
On August 1, the balance on your credit card is $873.15. On August 8, you make a purchase for $74.82. On August 15, you make a payment of $360. On August 28, you make a purchase for $194.29.
On August 1 , the balance on your credit card is $873.15. On August 8 , you make a purchase for $74.82. On August 15 , you make a payment of $360. On August 28 , you make a purchase for $194.29. 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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