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Compute the finance charge that will appear on the may

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You have an XYZ Credit Card and has a rate of28.4%and a balance of$2,300. You are on a friends only vacationand you are having the time of your life! Unfortunately, you decided to look at your email on April 16 at 4am and find out that your boss wants you back in the office ASAP! As you scramble to find a return flight home you see the best option is a flight that costs$392! (Sorry, I know this is stressful.) You charge it to your XYZ Credit Card (on April 16), luckily you have alreadymade the$230payment on April 15.

Question 1: Using the Unpaid Balance Method, what is your credit card bill this month?

Question 2: Using the Unpaid Balance Method, compute the finance charge that will appear on the May credit card statement.

Question 3: Using the Average Daily Balance Method, compute the finance charge that will appear on the May credit card statement.

Reference no: EM132651248

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