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please answer ASAP On August 1, Kate's credit card has a balance of $4,501.00. According to the terms of the card's lending agreement, an interest
please answer ASAP
On August 1, Kate's credit card has a balance of $4,501.00. According to the terms of the card's lending agreement, an interest rate of 14% per year Is assessed and the monthly finance charges are calculated using the average Dally Balance (ADB) Including purchases method. During the month, Kate expects to make the purchases listed below and will make a payment of $337.58 on August 23, and has collected the following additional Information: Date Purchases August 6 $245.31 August 13 1,940.83 August 21 130.41 August 26 212.85 Additional Information Monthly interest rate 1.17% Beginning card balance $4,501.00 Days in the month 31 Use the following table to help Kate estimate her monthly interest charge for August. Dates Number of Days Daily Balance Calculated Value 5 $4,501.00 8/2 - 3/6 8/7 - 8/13 8/14 - 8/21 7 8 8/22 - 8/23 2 8/24 - 8/26 3 8/27 - 8/1 6 31 Total Average Dally Balance With Purchases Finance Charge $ One way by which Kate can increase her finance charges, everything else remaining constant, is to Make fewer, less expensive purchases Buy a larger number of more expensive items using your card. Make larger or more frequent payments. Grade It Now Save & Continue Cantina with Step by Step Solution
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