How much monthly interest will be added to his account, Financial Management

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How much monthly interest will be added to his account

Ryan Gray, a student at State College, has a balance of $480 on his retail charge card; if the store levies a finance charge of 22 percent per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Round the answer to 2 decimal places. $

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Financial Management: How much monthly interest will be added to his account

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