Balance is computed by the average daily balance method

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Reference no: EM131819122

Calculating credit card interest Ryan Gray, a student at State College, has a balance of $420 on his retail charge card; if the store levies a finance charge of 22 percent per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Round the answer to 2 decimal places.

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Reference no: EM131819122

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