# math

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Calculating Annuities, Payment Plans & Amortization: A Sears Revolving Charge Card has a monthly rate of 1.75%. the interest is a minimum of \$0.50 if the average daily balance is \$28.50 or less. Explain how this policy is beneficial to Sears

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.0175(28.50) is 50 cents, so at any balance less than that, an interest charge of 50 cents would represent a rate higher than 1.75% per month

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Thank you!

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