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Chapter 7
Math
Question | Answer |
---|---|
Credit Card | popular method to purchase goods |
Charge Account | existing line of credit at the business that issued it |
Account statement | lists all the items that you have purchased and other transactions |
Finance charge | interest that the company charges to a credit account for not paying the total amount owed by the due date |
Unpaid balance method | computes the finance charge based on the portion of the previous balance you have not paid |
average daily balance method | company that adds any new purchases to the balance at the end of each day |