The balance on a credit card that charges a 10 5 APR interest rate over...
90.2K
Verified Solution
Link Copied!
Question
Basic Math
The balance on a credit card that charges a 10 5 APR interest 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 What is the finance charge on the average daily balance for this card over this 1 month period finance charge Round to the nearest hundredth Enter
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!