Find the finance charge interest for the following credit, Ask an Expert

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Find the finance charge (interest) for the following credit card billing period: May, 2011 (31 days). Balance from April = $880, purchase of $300 on May 10; purchase of $70 on May 16; payment of $250 on May 25. 16% APR; “average daily balance including new purchases” method. Twenty-five day grace period.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92786433

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