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Please explain how you got the answer. Thank you. Ruby Wilson, a student at State College, has a balance of $300 on her retail charge

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Please explain how you got the answer. Thank you.

Ruby Wilson, a student at State College, has a balance of $300 on her retail charge card. If the store levies a finance charge of 24 percent per year, how much monthly interest will be added to Ruby's account? Assume that the balance is computed by the average daily balance method. Assume a 30 day month. Round the answer to 2 decimal places

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