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Please Provide Answer ASAP. Thanks A credit card has a monthly rate of 2% and uses the average daily balance method for calculating interest. The
Please Provide Answer ASAP.
Thanks
A credit card has a monthly rate of 2% and uses the average daily balance method for calculating interest. The minimum monthly payment is the larger of 2% of the balance on the closing date rounded up to the nearest dollar or $10. Details of Junel-June 30 itemized billing are: June 1 Unpaid Balance June 6 Purchase June 10 Purchase June 12 Purchase June 15 Payment received June 23 Purchase June 27 Restaurant Bill $1260 $130 $70 $120 $500 $80 $90 (a) (b) (C) (d) Find the Average Daily Balance Find the interest due on the payment due date. Find the total balance owed on July 1. What is the minimum monthly payment on the due date, July 20?|Step by Step Solution
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