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FIUVIJls 9. Amount subject to finance charge. The previous statement for your credit card had a...
#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...
You have a credit card with an APR of 12%. You begin with a balance of...
You have a credit card with an APR of 12%. You begin with a balance of $350, in response to which you make a payment of $75. The first month you make charges amounting to $50. You make a payment of $75 to reduce the new balance, and the second month you charge $60. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New balance Payments Purchases charge balance Month 1 $350.00 $ Month 2 $...
Cody Lind’s most recent credit card statement follows. His finance charge is 18% APR. Calculate Cody’s...
Cody Lind’s most recent credit card statement follows. His finance charge is 18% APR. Calculate Cody’s average daily balance, finance charge and new balance. (Round your final answers to the nearest cent.) 30-day billing cycle 9/2 Billing date $1,090 previous balance 9/7 Payment $300 cr. 9/13 Charge: Kohl’s $450 9/17 Payment $300 cr. 9/28 Charge: WalMart 105 Average daily balance $ Finance charge $ New balance $
Cody Lind’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Cody’s...
Cody Lind’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Cody’s average daily balance, finance charge and new balance. (Round your final answers to the nearest cent.) 30-day billing cycle 9/2 Billing date $1,240 previous balance 9/7 Payment $600 cr. 9/13 Charge: Kohl’s $600 9/17 Payment $450 cr. 9/28 Charge: WalMart 180 Average daily balance $ Finance charge $ New balance
9. Credit Cards: a. If you have a balance of $1,245.00 on your credit card, how...
9. Credit Cards: a. If you have a balance of $1,245.00 on your credit card, how long will it take you to pay off the balance if you make $50.00/month payments until it is paid off? The APR is 19%. b. What will be your monthly payment on a credit card with a balance of $2,456.80, if you desire to pay it off in 2 years, at an APR of 23.99%? 10. A furniture company allows customers to purchase household...
Cody Lind’s most recent credit card statement follows. His finance charge is 18% APR. Calculate Cody’s...
Cody Lind’s most recent credit card statement follows. His finance charge is 18% APR. Calculate Cody’s average daily balance, finance charge and new balance. (Round your final answers to the nearest cent.) 30-day billing cycle 9/2 Billing date $1,130 previous balance 9/7 Payment $380 cr. 9/13 Charge: Kohl’s $390 9/17 Payment $340 cr. 9/28 Charge: WalMart 125 Find... 1. Average daily balance: $ 2. Finance charge: $ 3. New balance: $
Dallas Pierce's most recent credit card statement follows. His finance charge is 18% APR. Calculate Dallas's...
Dallas Pierce's most recent credit card statement follows. His finance charge is 18% APR. Calculate Dallas's average daily balance finance charge, and new balance. (Round your final answers to the nearest cent.) 9/2 9/7 9/13 9/17 9/28 30-day billing cycle Billing date $1,200 previous balance Payment $ 100 cr. Charge: kohl's $ 350 Payment $ 200 cm Charge: Walmart s se Answer is complete but not entirely correct. Average daily balance Finance charge New balance $ $ $ 1.248 33®...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) $ 1,000 30-day b...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) $ 1,000 30-day billing cycle Billing date Previous balance Payment Charge: Home Depot Payment 9/16 9/19 9/30 10/3 $ 50 CE 1,000 50 r. 10/7 Cash advance 60 . Finance charge is 1% on average daily balance. Average daily balance Finance charge If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct...
Suppose you open a credit card account and charge $150 to the account on the first...
Suppose you open a credit card account and charge $150 to the account on the first of each month to pay for your cable and Internet subscription. You plan to pay just the minimum payment each month for the first 6 months (until your summer job starts). The APR is 20.99% and the minimum payment is 4.5% of the balance. Use Excel to fill in the values in the table below and answer the questions that follow. Month Starting Balance...
You have a credit card with an APR of 20.8%. You begin with a balance of...
You have a credit card with an APR of 20.8%. You begin with a balance of $1500, in response to which you make a payment of $300. The first month you make charges amounting to $550. You make a payment of $300 to reduce the new balance, and the second month you charge $750. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New Payments Purchases balance charge balance Month 1 $1500 $ $ Month 2...
#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...
You have a credit card with an APR of 12%. You begin with a balance of $350, in response to which you make a payment of $75. The first month you make charges amounting to $50. You make a payment of $75 to reduce the new balance, and the second month you charge $60. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New balance Payments Purchases charge balance Month 1 $350.00 $ Month 2 $...
Dallas Pierce's most recent credit card statement follows. His finance charge is 18% APR. Calculate Dallas's average daily balance finance charge, and new balance. (Round your final answers to the nearest cent.) 9/2 9/7 9/13 9/17 9/28 30-day billing cycle Billing date $1,200 previous balance Payment $ 100 cr. Charge: kohl's $ 350 Payment $ 200 cm Charge: Walmart s se Answer is complete but not entirely correct. Average daily balance Finance charge New balance $ $ $ 1.248 33®...
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) $ 1,000 30-day billing cycle Billing date Previous balance Payment Charge: Home Depot Payment 9/16 9/19 9/30 10/3 $ 50 CE 1,000 50 r. 10/7 Cash advance 60 . Finance charge is 1% on average daily balance. Average daily balance Finance charge If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct...
You have a credit card with an APR of 20.8%. You begin with a balance of $1500, in response to which you make a payment of $300. The first month you make charges amounting to $550. You make a payment of $300 to reduce the new balance, and the second month you charge $750. Complete the following table. (Round your answers to the nearest cent.) Previous Finance New Payments Purchases balance charge balance Month 1 $1500 $ $ Month 2...
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