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Olenka [21]
3 years ago
5

What is the monthly finance charge if the average daily balance is $20, the daily periodic rate is 0.04%, and the number of days

in the cycle is 30?. A. 12¢. B. 24¢. C. 60¢
Mathematics
2 answers:
weeeeeb [17]3 years ago
3 0
Given:
average daily balance: $20
daily periodic rate: 0.04%
number of days in the cycle = 30 days

0.04% ÷ 100% = 0.0004
0.0004 x 20 = 0.008 daily finance charge
0.008 x 30 = 0.24 monthly finance charge

0.24 or <span>B. 24¢</span>
Arada [10]3 years ago
3 0

Answer:

the answer would be b 24

Step-by-step explanation:


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