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Determine the finance charge due on the october bill

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Problem 1: A credit card bill for $559 was due on September 14. Purchases of $286 were made on September 19, and $12 was charged on September 28. A payment of $250 was made on September 25. The annual interest on the average daily balance is 20.5%. Find the finance charge due (in dollars) on the October 14 bill. (Use 365 for the number of days in a year. Round your answer to the nearest cent.)

Reference no: EM132933739

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