Calculate the finance charge and new balance using the three methods presented. the account balance on september 1st is $149.99. on september 9th a payment of $50.00 is made. monthly rate = 1.75% date payments purchases balance number of days product/sum 9/1 - 9/8 $149.99 8 $1,199.92 9/9 $50.00 $99.99 1 $99.99 9/10 - 9/16 $99.99 21 $2,099.79 total 30 $3,399.70 previous balance method: finance charge = $. new balance = $. unpaid balance method: unpaid balance = $. finance charge = $. new balance = $. average daily balance method: average daily balance = $. finance charge = $. new balance = $

Answer :

Answer:

The average daily balance=$113.32

finance charge =$1.98

the new balance =$101.97

Explanation:

The formulas for computing each of the amounts above are found in the excel file attached. Kindly note the formulas for subsequent assignments.

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