Business and Finance

User Generated

fyvzpnfu50

Business Finance

Question Description

A credit card has a daily average balance $2,894.78 and the monthly periodic rate is 1.344%. What is the finance charge for the month? Round to nearest cent as needed.

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Explanation & Answer

finance charges are 2894.78 * 1.344/100= $ 38.90 = $39

juteno (12588)
University of Virginia

Anonymous
Awesome! Perfect study aid.

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