Use the average daily balance method to compute the finance charge on the credit card account for the previous month. The starting balance and transactions on the account for the month of April are given in the table below. Assume an annual interest rate of​ 18%.   Month: April​ (30 days); previous​ month's balance: ​$470   April 12 Charged ​$63 for a coat April 18 Made payment of ​$60 April 24 Charged ​$125 for DVDs April 29 Charged ​$36 for groceries

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Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.