Use the average daily balance method to compute the finance charge on the credit card...
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Accounting
Use the average daily balance method to compute the finance charge on the credit card account for the month of August days The starting balance from the previous month is $ The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of on the account and that the billing date is August st
tableDateTransactionAugust Made payment of $CAugust Charged $ for hiking boots,CAugust Charged $ for gasoline,CAugust Charged $ for restaurant meal,
The finance charge for the month of August is $
Round to the nearest cent as needed.
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