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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 25
Heather MacMaster's revolving credit account has an annual percentage rate of 16%. The previous month's balance was $345.40. During the current month, Heather's purchases and cash advances amounted to $215.39 and her payments and credits totaled $125.00.
a. What is the monthly periodic rate of the account?
b. What is the finance charge?
c. What is Heather's new balance?
a. What is the monthly periodic rate of the account?
b. What is the finance charge?
c. What is Heather's new balance?
Explanation
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Given that the previous balance is $345....
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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