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Q9 Lucy is charged interest of 19.99% per annum on her credit card CLR 9 L10 Obj. 4 Date Lucy withdrew $300 as a cash
| Q9 Lucy is charged interest of 19.99% per annum on her credit card | CLR 9 | L10 Obj. 4 |
| Date | ||
| Lucy withdrew $300 as a cash advance from her credit card. | 01-Dec | |
| Lucy received her credit card statement, showing a minimum balance owing of $10, due by January 12 | 31-Dec | |
| Lucy paid the minimum balance of $10 | 12-Jan | |
| Lucy paid the minimum balance of $10 | 12-Feb | |
| Lucy paid the minimum balance of $10 | 12-Mar | |
| Lucy paid the full balance owing | 01-Apr | |
| a. Compute the amount of interest charged during the month of December | ||
| b. What is the balance owing at the end of January? | ||
| PLEASE NOTE INTEREST IS CALCULATED ONCE PER MONTH AFTER PAYMENT MADE | ||
| c. What is the balance owing at the end of February? | ||
| d. What is the balance owing at the end of March? | ||
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