Question 79

schedule w to find the annual rate of interestyoi Table 4 RAL Fee RAL Amount S0-$500 $501 $1,000 $29.00 $39.00 $1,001-$1,500$49.00 $1,501-$2,000$69.00 $2,001-$5,000 $89.00 75. A client receives a $475 RAL, which is paid back in 20 days. 76. A client receives a $1,100 RAL, which is paid back in 30 days. 77. A client receives a $1,900 RAL, which is paid back in 15 days. 78. A client receives a $3,000 RAL, which is paid back in 25 days n Problems 79-82, assume that the annual interest rate on a credit card is 25.74% and interest is calculated by the average daily balance method. 79. The unpaid balance at the start of a 28-day billing cycle was $955.13. A $5,000 purchase was made on the first day of the billing cycle and a $50 payment was credited to the account on day 21. How much interest will be charged at the end of the billing cycle? 80. The unpaid balance at the start of a 28-day billing cycle was $955.13. A $50 payment was credited to the account on day 21 of the billing cycle and a $5,000 purchase was made on the last day of the billing cycle. How much interest will be charged at the end of the billing cycle? . The unnaid holon