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What is the monthly finance charge if the average daily balance is $15, the daily periodic rate is 0.06%, and the number of days in the cycle is 30?

What is the monthly finance charge if the average daily balance is $15, the daily periodic rate is 0.06%, and the number of days in the cycle is 30?
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What is the monthly finance charge if the average daily balance is $15, the daily periodic rate is 0.06%, and the number of days in the cycle is 30?

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User Meli
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8.1k points

2 Answers

2 votes
it should be 15 x .0006 x 30 = 27¢
answered
User Diomara
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7.8k points
5 votes
15 x .0006 x 30 = 27¢
answered
User Prashanth Sams
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8.7k points
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