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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.


Calculate the average daily balance, finance charge, and new balance using the average daily balanc

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