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Unformatted text preview: : a method in which credit card companies use to compute the finance charge. The finance charge is based on the amount owed on the closing date of your last statement. 6. periodic rate : is the monthly finance charge rate. 7. unpaid-balance : the finance charge is computed based on that portion of the previous balance that you have not paid. 8. average-daily-balance : is the average of the account balance at the end of each day of the billing period. New purchases posted during the billing period are not included when figuring the balance at the end of the day....
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This note was uploaded on 01/24/2012 for the course HUM 9999 taught by Professor Variousprofessorslisted during the Summer '06 term at Abilene Christian University.
- Summer '06