Problem 1 (10 points): This involve credit cards that calculate interest using the average daily...
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Accounting
Problem 1 (10 points): This involve credit cards that calculate interest using the average daily balance method. The monthly interest rate is 1.5% of the average daily balance. It shows transactions that occurred during March 1 - March 31 billing period: a. Find the average daily balance for the billing period (round to nearest cent) b. Find the interest to be paid on April 01, the next billing date. (round to nearest cent) c. Find the balance due on April 01 d. This credit card requires a $10 minimum monthly payment if the balance due at the end of the billing period is less than $360. Otherwise, the minimum monthly payment is 1/36 of the balance due at the end of the billing period (round to nearest whole dollar). What is the minimum monthly payment due by April 09
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