5. Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,600 9/19 Payment $ 66 cr. 9/30 Charge: Home Depot 1,800 10/3 Payment 66 cr. 10/7 Cash advance 76 Annual finance charge is 18.5% on average daily balance. Average daily balance $ Finance charge $

5. Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,600 9/19 Payment $ 66 cr. 9/30 Charge: Home Depot 1,800 10/3 Payment 66 cr. 10/7 Cash advance 76 Annual finance charge is 18.5% on average daily balance. Average daily balance $ Finance charge $

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 5FPE: Calculating the net costs of checking accounts. Determine the annual net cost of these checking...

See similar textbooks

Similar questions

Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle Previous balance 9/16 Billing date Payment Charge: Home Depot Payment Cash advance $ 1,400 9/19 54 cr. 9/30 10/3 10/7 1,200 54 cr. 64 Finance charge is 1.25% on average daily balance. Average daily balance Finance charge %24
Calculate the average daily balance and finance charge. (Round your answers to the near 9/16 Billing date 9/19 Payment 9/30 Charge: Home Depot 10/3 Payment 10/7 Cash advance. 30-day billing cycle 4 Average daily balance Finance charge Previous balance Finance charge is 1% on average daily balance. S 62 cr. 1,600 62 cr. 72 $2,200
Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 9/16 9/19 9/30 Billing date Payment Charge: Home Depot Payment 30-day billing cycle Previous balance i 10/3 10/7 Cash advance Finance charge is 1% on average daily balance. Average daily balance Finance charge $:59 Credit 1,450 59 Credit 69 $ 1,900
Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 9/16 9/19 9/30 10/3 10/7 Billing date Payment Charge: Home Depot Payment Cash advance 30-day billing cycle Previous balance Finance charge is 1.5% on average daily balance. Average daily balance Finance charge $60 Credit 1,500 60 Credit 70 $ 2,000
Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. Billing date Payment Charge: Home Depot Payment 9/16 9/19 9/30 10/3 10/7 Cash advance Finance charge is 1% on average daily balance. Average daily balance Finance charge 30-day billing cycle Previous balance $ 56 Credit 1,300 56 Credit 66 $ 1,600
Calculate the average daily balance and finance charge on the statement below. Assume 2% finance charge on average daily balance. Note: Round your "Finance charge" to the nearest cent. 7/3 7/18 7/27 30-day billing cycle Balance Payment Charge Walmart Average daily balance Finance charge $ 400 100 250 Credit
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 Credit $10.00 October 25 Purchase $124.60 average daily balance = $?
calculate the monthly finance charge for the credit card transaction assume that it takes 10 days for the payment to be received and recorded and the month is 30 days long (round your answer to the nearest cent) $675 balance 15%, $625 payment, average daily balance method $___________
Dallas Pierce’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Dallas’s average daily balance, finance charge, and new balance. (Round your final answers to the nearest cent.)
7. Using the following table containing the dates of purchases and payments to determine the average daily balance of a credit card at the end of the billing cycle, assuming 30 days in the month (Round to the nearest cent). Days Purchase/Payment Dollar Amount Unpaid Balance Раyment $1,500 $120 3 $670 $375 $85 10 Purchase 22 Purchase 26 Payment
Using the unpaid balance method, find the current month's finance charge on a credit card account having the following transactions. Last month's balance: $255 Last payment: $130 Annual Interest rate: 21% Purchases $556 Returns: $117 The finance charge is $ (Round to the nearest cent)
Bhupatbhai