Previous Balance Method On September 5, the billing date,
Chapter 11, Problem 11.1.209(choose chapter or problem)
Previous Balance Method On September 5, the billing date, Verna Brown had a balance due of $567.20 on her credit card. The transactions during the following month were September 8 Payment $275.00 September 21 Charge: Airline ticket 330.00 September 27 Charge: Hotel bill 190.80 October 2 Charge: Clothing 84.75 a) Find the finance charge on October 5, using the previous balance method. Assume that the interest rate is 1.1% per month. b) Find the new balance on October 5.
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