Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.)
30-day billing cycle | |||||
9/16 | Billing date | Previous balance | $ 800 | ||
9/19 | Payment | $ | 48 cr. | ||
9/30 | Charge: Home Depot | 900 | |||
10/3 | Payment | 48 cr. | |||
10/7 | Cash advance | 58 | |||
Finance charge is 1.25% on average daily balance.
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