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The average daily balance of a credit card for the month of December was $ 8 7 0 , and the unpaid balance at the

The average daily balance of a credit card for the month of December was $

870,

and the unpaid balance at the end of the month was $

960 .

If the monthly interest rate is

18 %

of the average daily balance, what is the total balance on the next billing date January

1 ?

Round your answer to the nearest cent.

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