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Chapter 7

Math

QuestionAnswer
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
Created by: Justinisalol