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09-05-2024
Mathematics

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Tyler has a credit card with an annual interest rate of 21%. His previous balance was $280. During the month of August, made the following transactions. August 5: payment of $75 August 15: Charged $35 for hiking boots August 21: Charged $43 for gasoline August 24: Charged $52 for restaurant meal His credit card company requires 2% of the total plus the finance charge as a minimum payment. Using the END OF MONTH BALANCE method, (1) What is the finance charge? (2) What is the minimum payment?

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