Mathematics, 23.02.2021 08:40 jstadler06
Calculate the average daily balance, finance charge, and new balance using the average daily balance method.
Monthly rate = 1.75%
The average daily balance = X ÷ 30 = $X.
Finance charge = monthly rate x average daily balance = $X.
New balance = previous balance - payment/credits + finance charge + new purchases = $X.
Answers: 1
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Calculate the average daily balance, finance charge, and new balance using the average daily balance...
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