How much interest would he owe using the previous balance

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Question: A credit card charges 18%, compounded daily. Frank has $750 due on the statement date. He is only able to make the minimum payment of $22.50. If the billing cycle is 30 days and the grace period is 20 days, and he pays the full balance at the next due date, how much interest would he owe using the previous balance method?

Reference no: EM133378726

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