Ron did not pay his credit card bill in full last month. He wants to pay it in full this month. On this month's bill, there is a mistake in the average daily balance. The credit card company lists the average daily balance on his bill as $510.50. Ron computed it himself and found that it is $410.50.
a. The APR is 18%. What finance charge did the credit card company compute on Ron's bill?
b. If Ron's average daily balance is correct, what should the finance charge be?
This question was answered on: Jul 11, 2017
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