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For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.6% per month on the...
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of
per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing.
Previous Balance: $484.59
January 13 Billing Date
January 15 Returns $104.85
January 21 Clothes $114.66
January 27 Bus tickets $68.71
February 3 Payment $135
February 6 Flowers $53.13