Homework Answers
| Date | Amount in Dollar | |
| 1-Apr | 1890 | Payable |
| 1-Apr | -800 | payment made |
| On April 30 | 1090 | Payable at April end |
| May1 - Charges | 485 | Payable |
| 1-May | -940 | payment made |
| 635 | Payable at May end | |
| June1 - Charges | 260 | |
| 895 | Payable as on June 1st | |
| Interest @ 1% per month | ||
| Amount outstanding as of April 30th | 1090 | |
| Interest for April | 0.9083 | |
| Amount outstanding as of May 31st | 635 | |
| Interest for May | 0.5292 | |
| Total Payable as of June 1st | ||
| Credit card amount | 895 | |
| Interest payable For April and May | 1.4375 | |
| Total payable as of June 1st | 896.4375 |
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Bw . 3. Assume that you have a credit card whose statement on April 1 showed...
3. Assume that you have a credit card whose statement on April 1 showed that you...
3. Assume that you have a credit card whose statement on April 1 showed that you owe $1,890.00. You made a payment to the credit card company of $800.00 on the same day using on-line payment. Throughout the month of April you charged $485.00 on this card which is posted on the May 1 statement. On May 1 you made an on-line payment of $940.00 to the company. Throughout the month of May you charged $260.00 on this card which...
It is for Mechanical engineering. Not Accounting 3. Assume that you have a credit card whose...
It
is for Mechanical engineering. Not Accounting
3. Assume that you have a credit card whose statement on April 1 showed that owe $1,890.00. You made a payment to the credit card company of $800.00 the same day using on-line payment. Throughout the month of April you cha $485.00 on this card which is posted on the May 1 statement. On May 1 you an on-line payment of $940.00 to the company. Throughout the month of M you charged $260.00...
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1. Assume you owe $5,000 on a credit card on June 1st. Assume the company uses the average daily balance to compute...
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3. Assume that you have a credit card whose statement on April 1 showed that you owe $1,890.00. You made a payment to the credit card company of $800.00 on the same day using on-line payment. Throughout the month of April you charged $485.00 on this card which is posted on the May 1 statement. On May 1 you made an on-line payment of $940.00 to the company. Throughout the month of May you charged $260.00 on this card which...
It
is for Mechanical engineering. Not Accounting
3. Assume that you have a credit card whose statement on April 1 showed that owe $1,890.00. You made a payment to the credit card company of $800.00 the same day using on-line payment. Throughout the month of April you cha $485.00 on this card which is posted on the May 1 statement. On May 1 you an on-line payment of $940.00 to the company. Throughout the month of M you charged $260.00...
1. Find the value of Y that is equivalent to the cash flow on left at an annual interest rate of 4%. 3Y 1800 300 o 1 2 3 4 5 6 = yrol 2 3 4 5 6 2. You bought a used car with no down payment and agreed to pay for it with a single payment of $6,250.00 after 5 years. Assuming compounding every 4 months and interest rate per interest period at 1.5%: a) What was...
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