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On May 1, the balance on your credit card is $686.25. On May 6, you make a purchase for $118.48. On May 11, you make
On May 1, the balance on your credit card is $686.25. On May 6, you make a purchase for $118.48. On May 11, you make a payment of $370. On May 23, you make a purchase for $21.47, and on May 28, you make a purchase for $41.39.
On May 1 , the balance on your credit card is $686.25. On May 6 , you make a purchase for $118.48. On May 11 , you make a payment of $370. On May 23, you make a purchase for $21.47, and on May 28, you make a purchase for $41.39. Assume the billing date is the 1st of the month and the monthly finance charge is 1.9%. 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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