Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8%...

Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8% interest rate per month on the average daily balance. Find the average daily balance if Strong's had an unpaid balance on March 1 of $195.10, a payment of $20 posted on March 9, and a purchase of $34.60 posted on March 25. The billing cycle ends March 31.

Expert Solution

In Avg daily balance method interest is charged on the daily balance due instead of monthly or yearly balance.Please upvote if the ans is helpful. Thanks.

jeff jeffy answered 1 year ago

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Question

Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8%...

Solutions

Expert Solution

Related Solutions

Exercise 1.8 Your long distance phone service has a base monthly charge and a per-minute charge....

To better understand customer satisfaction with the service in the store a local clothing store decides...

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Question

Suppose the charge account of​ Strong's Mailing Service at the local supply store had a​ 1.8%...

Solutions

Expert Solution

Related Solutions

Suppose the charge account of Strong's Mailing Service at the local supply store had a 1.8%...