Find the finance charge for the following credit card, Financial Management

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Find the finance charge for the following credit card

Find the finance charge for the following credit card billing period: May, 2011 (31 days). Balance from April = $0, purchase of $400 on May 8; purchase of $160 on May 14; payment of $560 on June 18th. 15% APR; “average daily balance including new purchases” method. Twenty-five day grace period.

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Financial Management: Find the finance charge for the following credit card

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Financial Management: Find the finance charge for the following credit card

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