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Author Question: Fred has a credit card which uses the average daily balance method, has a 30-day billing period, a ... (Read 49 times)

arivle123

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on: Nov 11, 2019
Fred has a credit card which uses the average daily balance method, has a 30-day billing period, a 21-day grace period and charges 21 percent annual interest calculated (but not compounded) daily. His average daily balance for the billing period was $7900, and he could not pay it off until received his pay cheque eight days after the statement due date. How much interest does he owe?
◦ $268.17
◦ $36.36
◦ $136.36
◦ $172.72
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
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Marked as best answer by arivle123 on Nov 11, 2019

fatboyy09

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Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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arivle123

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Reply 2 on: Nov 11, 2019
Great answer, keep it coming :)

Dinolord

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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