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The balance on Ramon Felipe's credit card on January 15, his billing date, was $383.28. For the period ending Febru...
The balance on Ramon Felipe's credit card on January 14, his billing date, was $288.37. For...
The balance on Ramon Felipe's credit card on January 14, his billing date, was $288.37. For the period ending February 14, Ramon had the following transactions to the right a) Find the average daily balance for the billing period b) Find the finance charge to be paid on February 14. Assume an interest rate of 12% per month. c) Find the balance due on February 14 January 16 Charge: $37.59 Restaurant meal January 17 Payment February 2 Charge: $180.00 $53.07...
On February 3, the billing date, Carol Ann Bluesky had a balance due of $125.96 on...
On February 3, the billing date, Carol Ann Bluesky had a balance due of $125.96 on her credit card. Her bank charges an interest rate of 1.25% per month and uses the average daily balance method. She made the transactions described in the table during the month a) Find Carol Ann's average daily balance for the billing period from February 3 to March 3 Assume it is not a leap year. b) Find the finance charge to be paid on...
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...
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...
Sept. 7 Payment $270.00 On September 6, the billing date, Vema had a balance due of...
Sept. 7 Payment $270.00 On September 6, the billing date, Vema had a balance due of $566.39 on her credit card. Assume that the interest rate is 1.1% per month. Suppose that Vema's bank uses the average daily balance method. Answer parts (a) through (d). Sept. 24 Charge: Airline ticket $331.00|| Sept. 27 Charge: Hotel bill $193.01 Oct. 1 Charge: Clothing $83.59 a) Determine Verna's average daily balance for the billing period from September 6 to October 6. The average...
The credit card with the transactions described in the popup below uses the average daily balance...
The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interost rate is 1.6 % of the average daily balance. Calculate parts a d using the statement in the popup Cick the icon to view the credit card statement a. Find the average daily balance for the billing period Round to the nearest cont The average daly balance for the biling period is $ (Round to the nearest...
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
The credit card with the transactions described in the popup below uses the average daily balance...
The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.3% of the average daily balance. Calculate parts a-d using the statement in the popup. Click the icon to view the credit card statement a. Find the average daly balance for the billing period. Round to the nearest cont. The average daily balance for the billing period is (Round to the nearest cent as needed.)...
8.8.3 Skill Builder Question Help The credit card with the transactions described in the popup below...
8.8.3 Skill Builder Question Help The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.4% of the average daily balance. Calculate parts a-d using the statement in the popup. Click the icon to view the credit card statement. a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ ....
Question 1 (8 points) This problem nvolves credit cards that calculate interest using the Average daily balance method. The monthly interest rate is 1.5% of the Average daily balance. Each exercise s...
Question 1 (8 points) This problem nvolves credit cards that calculate interest using the Average daily balance method. The monthly interest rate is 1.5% of the Average daily balance. Each exercise shows transactions that occurred during the March 1-March 31 billing period. In each exercise, a. Fill in the blanks in the table. Then find the Average daily balance for the billing period. Round to the nearest cent. Transaction description Previous balance, $6240.00 March 1 Billing date March 5 Payment...
The balance on Ramon Felipe's credit card on January 14, his billing date, was $288.37. For the period ending February 14, Ramon had the following transactions to the right a) Find the average daily balance for the billing period b) Find the finance charge to be paid on February 14. Assume an interest rate of 12% per month. c) Find the balance due on February 14 January 16 Charge: $37.59 Restaurant meal January 17 Payment February 2 Charge: $180.00 $53.07...
On February 3, the billing date, Carol Ann Bluesky had a balance due of $125.96 on her credit card. Her bank charges an interest rate of 1.25% per month and uses the average daily balance method. She made the transactions described in the table during the month a) Find Carol Ann's average daily balance for the billing period from February 3 to March 3 Assume it is not a leap year. b) Find the finance charge to be paid on...
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...
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...
Sept. 7 Payment $270.00 On September 6, the billing date, Vema had a balance due of $566.39 on her credit card. Assume that the interest rate is 1.1% per month. Suppose that Vema's bank uses the average daily balance method. Answer parts (a) through (d). Sept. 24 Charge: Airline ticket $331.00|| Sept. 27 Charge: Hotel bill $193.01 Oct. 1 Charge: Clothing $83.59 a) Determine Verna's average daily balance for the billing period from September 6 to October 6. The average...
The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interost rate is 1.6 % of the average daily balance. Calculate parts a d using the statement in the popup Cick the icon to view the credit card statement a. Find the average daily balance for the billing period Round to the nearest cont The average daly balance for the biling period is $ (Round to the nearest...
The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.3% of the average daily balance. Calculate parts a-d using the statement in the popup. Click the icon to view the credit card statement a. Find the average daly balance for the billing period. Round to the nearest cont. The average daily balance for the billing period is (Round to the nearest cent as needed.)...
8.8.3 Skill Builder Question Help The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.4% of the average daily balance. Calculate parts a-d using the statement in the popup. Click the icon to view the credit card statement. a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ ....
Question 1 (8 points) This problem nvolves credit cards that calculate interest using the Average daily balance method. The monthly interest rate is 1.5% of the Average daily balance. Each exercise shows transactions that occurred during the March 1-March 31 billing period. In each exercise, a. Fill in the blanks in the table. Then find the Average daily balance for the billing period. Round to the nearest cent. Transaction description Previous balance, $6240.00 March 1 Billing date March 5 Payment...
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