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Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Assume 365...

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Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Assume 365 days in a year. (Round your answer to the nearest cent.)$3,000 balance, 21% rate, $1,500 payment, average daily balance method
Answered Same Day Dec 20, 2021

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Robert answered on Dec 20 2021
135 Votes
Calculate the monthly finance charge for the following credit card transaction. Assume that it takes 10 days for a payment to be received and recorded and that the month is 30 days long. Assume 365 days in a year. (Round your answer to the nearest cent.) $3,000 balance, 21% rate, $1,500 payment,...
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