On February 3, the billing date, Carol Ann had a balance due of $124.78 on her credit

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On February 3, the billing date, Carol Ann had a balance due of $124.78 on her credit card. Her bank charges an interest rate of 1.25% per month. She made the following transactions during the month.

Charge: Art supplies Payment Charge: Flowers delivered Charge: Music CD $25.64 February 8 February 12 February 14 Februa

(a) Determine the finance charge on March 3, using the previous balance method.

(b) Determine the new balance on March 3.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Question Posted: Jan 28, 2019 07:51 AM

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On February 3, the billing date, Carol Ann had a balance due of $124.78 on her credit

Question:

Charge: Art supplies Payment Charge: Flowers delivered Charge: Music CD $25.64 February 8 February 12 February 14 February 25 100.00 67.23 13.90

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a Finance charge 12478001251 156 ...View the full answer

A Survey of Mathematics with Applications

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