Question

Melody has a credit card that uses the previous balance method. The opening balance of one her 30 days billing cycles was $0, but this was her balance for only first 15 days of billing cycle. She then made a purchase that increased her balance to $4800, and her balance stayed this amount for the remainder of billing cycle. If her credit card APR is 29%. How much was Melody charged interest for cycle?

Answer 1

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