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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 160
Solve the following application problem using 360-day years where applicable.
Abbie Spring's unpaid balance on her Visa card on July 8 was $204.37. She made a payment of $100 on July 14 and had charges of $34.95 on July 16 and $95.12 on July 30. Assume an interest rate of 1.6% per month and find the balance on August 8 using (a) the unpaid balance method __________ and (b) the average daily balance method. __________
Abbie Spring's unpaid balance on her Visa card on July 8 was $204.37. She made a payment of $100 on July 14 and had charges of $34.95 on July 16 and $95.12 on July 30. Assume an interest rate of 1.6% per month and find the balance on August 8 using (a) the unpaid balance method __________ and (b) the average daily balance method. __________
Explanation
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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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