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Finance and Growth: Previous Balance $562.93 Month Day Transaction Amount Мay Billing Date 10 May 14 HyVee 185.48 Walmart May Мay 21 69.55 31 Return 64.51 Juu D.

Finance and Growth: Previous Balance $562.93 Month Day Transaction Amount Мay Billing Date 10 May 14 HyVee 185.48 Walmart May Мay 21 69.55 31 Return 64.51 Juu D.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Finance and Growth: Previous Balance $562.93 Month Day Billing Date Transaction Amount May 10 May 14 HyVee 185.48 May 21 Walmart 69.55 Мay 31 Return 64.51 June 6 Payment 85.56 June 7 Amazon 182.4 Given the credit card statement, assume one month between billing dates using the proper number of days in the month for the billing date. Find the Average Daily Balance: Find the finance charge if the interest is 1.9% per month on the average daily balance: Find the new balance: Round to the nearest cent (or 2 decimal places). Do not include dollar sign or commas.
Transcribed Image Text:Finance and Growth: Previous Balance $562.93 Month Day Billing Date Transaction Amount May 10 May 14 HyVee 185.48 May 21 Walmart 69.55 Мay 31 Return 64.51 June 6 Payment 85.56 June 7 Amazon 182.4 Given the credit card statement, assume one month between billing dates using the proper number of days in the month for the billing date. Find the Average Daily Balance: Find the finance charge if the interest is 1.9% per month on the average daily balance: Find the new balance: Round to the nearest cent (or 2 decimal places). Do not include dollar sign or commas.
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