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What is the average daily balance

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Reference no: EM132893837

Problem - Estefany had these daily balances on her credit card for her last billing month. She did not pay the card in full the previous month, so she will have to pay a finance charge. The APR is 21.6%.

Five days @ $223.68

Nine days @ $923.11

Seven days @ $1,022.50

Ten days @ $875.25

Required -

a. What is the average daily balance?

b. What is the finance charge?

Reference no: EM132893837

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