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The credit card with the transactions described on the right uses the average daily balance...

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Accounting

The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right.
\table[[Transaction Description,\table[[Transaction],[Amount]]],[Previous balance, $6290.00,],[March 1 Billing date,],[March 5 Payment,$300.00 credit],[March 7 Charge: Restaurant,$50.00
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