Find the finance charge for the following revolving charge account. Assume that interest is calculated on the average daily balance of the account.
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A) $786.59
B) $78.66
C) $85.81
D) $71.51
Correct Answer:
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Q18: Use the loan payoff table to find
Q19: Provide an appropriate response.
-Explain how the average
Q20: Provide an appropriate response.
-Explain the method used
Q21: Use the loan payoff table to find
Q22: Find the unpaid balance at the end
Q24: Find the unpaid balance at the end
Q25: Solve the problem.
-Use the average daily balance
Q26: Find the total monthly payment including taxes
Q27: Solve the problem using the loan payoff
Q28: Find the finance charge on the revolving
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