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PFIN 5th Edition by Randall Billingsley,Lawrence Gitman,Michael Joehnk
Edition 5ISBN: 978-1305661707PFIN 5th Edition by Randall Billingsley,Lawrence Gitman,Michael Joehnk
Edition 5ISBN: 978-1305661707 Exercise 8
Calculating credit card interest. Anne Willoughby, a student at state College, has a balance of $380 on her retail charge card; if the store levies a finance charge of 21 percent per year, how much monthly interest will be added to her account?
Explanation
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Calculation of credit card interest:
Cr...
PFIN 5th Edition by Randall Billingsley,Lawrence Gitman,Michael Joehnk
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