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OpenStudy (anonymous):
A credit card calculates interest using the average daily balance method. The card charges 18.2% annual interest rate on the average daily balance. The following transactions occurred during the June 1 – June 30 billing period. The balance at the end of June was $1,898.75, and the interest to be paid on July 1 is $26.87. Find the balance due on July 1. Round to the nearest cent.
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