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What is the Average Daily Balance

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Question - Nick has a MasterCard with an annual percentage rate of 24.0%. His previous balance for his July billing cycle is $3,064.93. In August (billing cycle Aug.1-Aug.31) he made a $94.15 purchase on August 14th. He made a payment of $212.50 on August the 22nd. Find the following Values:

a) What is the Average Daily Balance?

b) What is the Finance Charge?

c) What is the New Balance?

Reference no: EM132556534

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