If the store levies a finance charge of 18 per year how


Ryan Gray, a student at State College, has a balance of $250 on his retail charge card; if the store levies a finance charge of 18% per year, how much monthly interest will be added to his account? Assume that the balance is computed by the average daily balance method. Do not round intermediate calculations. Round the answer to 2 decimal places.

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Financial Management: If the store levies a finance charge of 18 per year how
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