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Here is Lashonda's credit card statement for the month of December. Date Transaction December 1 Beginning...
Here is Shen's credit card statement for the month of June. Date Transaction June 1 Beginning balance June 8 Purchase J...
Here is Shen's credit card statement for the month of June. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June 25 Payment Transaction amount $2600.75 $89.06 $910.90 $750.00 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in June. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June...
Here is Mary's credit card statement for the month of June. Date Transaction June 1 Beginning...
Here is Mary's credit card statement for the month of June. Date Transaction June 1 Beginning balance June Purchase June 23 Payment June 26 Purchase Transaction amount $2150.30 $600.50 $984.00 $450.52 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in June. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Transaction Unpad Date Transaction Number of days at that balance Unpaid Number amount balance...
(b)Find the average daily balance. Write your answer to the nearest cent. (c)Suppose the credit card...
(b)Find the average daily balance. Write your answer to the
nearest cent.
(c)Suppose the credit
card company charges an interest rate of 1.3% on the average daily
balance for November found in part (b). How much interest will be
charged? Write your answer to the nearest cent.
(d)What will Sam's beginning balance be for the month of
December (including the interest for November found in part
(c))?
Here is Sam's credit card statement for the month of November. Date Transaction...
Find the average daily balance for the credit card with the following transactions. Assume one month...
Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance Previous Balance $459.21 Billing Date May 17 Date Transaction Amount May 19 Return $ 62.45 May 25 Purchase $134.76 May 28 Purchase $ 45.65 June 3 Payment $175 The average daily...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answer to the nearest cent.) $350 balance, 17%, $300 payment; average daily balance method
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $300 balance, 17%, $50 payment (a) previous balance method (b) adjusted balance method (average daily balance method
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $500 balance, 17%, $50 payment (a) previous balance method $ (b) adjusted balance method $ (c) average daily balance method $.
Score: 0 of 5 pts Instructor-created question The credit card with the Transaction Description ransaction Amount...
Score: 0 of 5 pts Instructor-created question The credit card with the Transaction Description ransaction Amount ransactions described on the right Previous balancel $6280 0 uses the average daily balance method to calculate interest. The annual interest rate is 18% of the average daily balance. Calculate parts a-c using the statement on March 12 C the right arch 1 Billing date arch 7 Charge: Restaurant $60.00 arch 21 Charge: Car Repairs $220 00 March 5 Payment 250.00 credit arge Groceries...
MS ISL. 13 PLS DU For the credit card account, assume one month between billing dates...
MS ISL. 13 PLS DU For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 15% per month on the average daily balance. Find (a) the average daily balance. (b) the monthly financ charge, and (c) the account balance for the next billing Previous Balance 5779.55 July 8 Billing Date July 18 Payment $300 July 27 Lunch S45 36 August 4 Concert tickets $89.86 (a) The average daily balance is...
#1.) Here is a sample credit card statemet. Use the CARD Statement to answer problems a-...
#1.) Here is a sample credit card statemet. Use the CARD Statement to answer problems a- d. CARD Statement Account Number 1234 1234 1234 1234 O Statement Closing Date 11/06/08 Credit Line $2,100.00 Available Credit $1,576.80 TERESA TORRES 123 ANY STREET CITY CA 12345 o Account Summary Previous Balance - Credits - Payments + Purchases & Other Chgs - Cash Advances • FINANCE CHARGE - New Balance Payment Information O New Balance O Scheduled Minimum Payment O Scheduled Payment Due...
Here is Shen's credit card statement for the month of June. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June 25 Payment Transaction amount $2600.75 $89.06 $910.90 $750.00 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in June. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Date Transaction June 1 Beginning balance June 8 Purchase June 21 Purchase June...
Here is Mary's credit card statement for the month of June. Date Transaction June 1 Beginning balance June Purchase June 23 Payment June 26 Purchase Transaction amount $2150.30 $600.50 $984.00 $450.52 (a) Use the credit card statement to help fill in the table below. Note that there are 30 days in June. Also, a purchase increases the unpaid balance, and a payment decreases the unpaid balance. Transaction Unpad Date Transaction Number of days at that balance Unpaid Number amount balance...
(b)Find the average daily balance. Write your answer to the
nearest cent.
(c)Suppose the credit
card company charges an interest rate of 1.3% on the average daily
balance for November found in part (b). How much interest will be
charged? Write your answer to the nearest cent.
(d)What will Sam's beginning balance be for the month of
December (including the interest for November found in part
(c))?
Here is Sam's credit card statement for the month of November. Date Transaction...
Find the average daily balance for the credit card with the following transactions. Assume one month between billing dates using the proper number of days in the month. Then find the finance charge if interest is 1.5% per month on the average daily balance. Finally, find the new balance Previous Balance $459.21 Billing Date May 17 Date Transaction Amount May 19 Return $ 62.45 May 25 Purchase $134.76 May 28 Purchase $ 45.65 June 3 Payment $175 The average daily...
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $300 balance, 17%, $50 payment (a) previous balance method (b) adjusted balance method (average daily balance method
Score: 0 of 5 pts Instructor-created question The credit card with the Transaction Description ransaction Amount ransactions described on the right Previous balancel $6280 0 uses the average daily balance method to calculate interest. The annual interest rate is 18% of the average daily balance. Calculate parts a-c using the statement on March 12 C the right arch 1 Billing date arch 7 Charge: Restaurant $60.00 arch 21 Charge: Car Repairs $220 00 March 5 Payment 250.00 credit arge Groceries...
MS ISL. 13 PLS DU For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 15% per month on the average daily balance. Find (a) the average daily balance. (b) the monthly financ charge, and (c) the account balance for the next billing Previous Balance 5779.55 July 8 Billing Date July 18 Payment $300 July 27 Lunch S45 36 August 4 Concert tickets $89.86 (a) The average daily balance is...
#1.) Here is a sample credit card statemet. Use the CARD Statement to answer problems a- d. CARD Statement Account Number 1234 1234 1234 1234 O Statement Closing Date 11/06/08 Credit Line $2,100.00 Available Credit $1,576.80 TERESA TORRES 123 ANY STREET CITY CA 12345 o Account Summary Previous Balance - Credits - Payments + Purchases & Other Chgs - Cash Advances • FINANCE CHARGE - New Balance Payment Information O New Balance O Scheduled Minimum Payment O Scheduled Payment Due...
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