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Please help! Show ALL mathematical steps. Calculating Annuities, Payment Plans & Amortization: A Sears Revolving Charge Card has a monthly rate of 1.75%. the interest

Please help! Show ALL mathematical steps.

Calculating Annuities, Payment Plans & Amortization: A Sears Revolving Charge Card has a monthly rate of 1.75%. the interest is a minimum of $0.50 if the average daily balance is $28.50 or less. Explain how this policy is beneficial to Sears.

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