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OpenStudy (anonymous):
Calculate the average daily balance on Joe’s credit card, and then calculate the interest that he owes using an annual interest rate of 15%. Assume a 30 day billing cycle. Date Transaction Type Amount 7/15 Balance $1,000 7/25 Payment $800 7/26 Charge $700 8/10 Charge $50 Average daily balance:__________________ Interest (Finance) Charges _________________
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