Acellus Academy Balance of A Credit Card and Interest Rate Exercies


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e balance on a credit card, that charges a 20%
Rinterest rate, over a 1 month period is given in
the following table:
Days 1-3:
$150 (initial balance)
Days 4-20: $200 ($50 purchase)
Days 21-30: $50 ($150 payment)
hat is the finance charge, on the average daily
alance, for this card over this 1 month period?
finance charge = $[?]
Round to the nearest hundredth

Purchase answer to see full

interest rate

Finance charge

Initial Balance

balance on a credit card

daily balance

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