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9:21 PM Mon Feb 27 → 110 X Ⓒ ➡)) Listen Costs of Credit Cards Billing Date Mar. 3 Apr. 3 May 3 June 3 primaverahs.strongmind.com July 3 Aug. 3 Sept. 3 Oct. 3 Nov. 3 Dec. 3 Jan. 3 Rachel buys clothes from an online retailer. Her purchase total is $130, and she pays with her credit card. The card has a 22% annual interest rate, and her minimum payment is $14.00. Payments are due on the 9th of every month. Her payment schedule follows. Starting balance: $130.00 Payment Date Mar. 7 Apr. 7 May 7 June 7 July 7 Aug. 7 Sept. 7 Oct. 7 Nov. 7 Dec. 7 Jan. 7 $13.77 ●●● $130.00 $143.77 Workbook What is the total amount Rachel pays for the clothes? $154.00 3 of 4 Payment Interest Principal $14.00 $2.38 $11.62 $14.00 $2.17 $11.83 $14.00 $1.95 $12.05 $14.00 $1.73 $12.27 $14.00 $1.51 $12.49 $14.00 $1.28 $12.72 $14.00 $1.05 $12.95 $14.00 $0.81 $13.19 $14.00 $0.57 $13.43 $14.00 $0.32 $13.68 $3.77 Remaining Balance $118.38 $106.55 $94.50 $82.23 $69.74 $57.02 $44.07 $30.88 $17.45 $3.77 $0.00 80%

9:21 PM Mon Feb 27 → 110 X Ⓒ ➡)) Listen Costs of Credit Cards Billing Date Mar. 3 Apr. 3 May 3 June 3 primaverahs.strongmind.com July 3 Aug. 3 Sept. 3 Oct. 3 Nov. 3 Dec. 3 Jan. 3 Rachel buys clothes from an online retailer. Her purchase total is $130, and she pays with her credit card. The card has a 22% annual interest rate, and her minimum payment is $14.00. Payments are due on the 9th of every month. Her payment schedule follows. Starting balance: $130.00 Payment Date Mar. 7 Apr. 7 May 7 June 7 July 7 Aug. 7 Sept. 7 Oct. 7 Nov. 7 Dec. 7 Jan. 7 $13.77 ●●● $130.00 $143.77 Workbook What is the total amount Rachel pays for the clothes? $154.00 3 of 4 Payment Interest Principal $14.00 $2.38 $11.62 $14.00 $2.17 $11.83 $14.00 $1.95 $12.05 $14.00 $1.73 $12.27 $14.00 $1.51 $12.49 $14.00 $1.28 $12.72 $14.00 $1.05 $12.95 $14.00 $0.81 $13.19 $14.00 $0.57 $13.43 $14.00 $0.32 $13.68 $3.77 Remaining Balance $118.38 $106.55 $94.50 $82.23 $69.74 $57.02 $44.07 $30.88 $17.45 $3.77 $0.00 80%

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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9:21 PM Mon Feb 27 (4) 110 ? > Listen primaverahs.strongmind.com Costs of Credit Cards Billing Payment Date Date Mar. 3 Apr. 3 May 3 June 3 July 3 Aug. 3 Sept. 3 Oct. 3 Nov. 3 Dec. 3 Jan. 3 Rachel buys clothes from an online retailer. Her purchase total is $130, and she pays with her credit card. The card has a 22% annual interest rate, and her minimum payment is $14.00. Payments are due on the 9th of every month. Her payment schedule follows. Starting balance: $130.00 Mar. 7 Apr. 7 May 7 June 7 ●●● July 7 Aug. 7 Sept. 7 Oct. 7 Nov. 7 Dec. 7 Jan. 7 Workbook O $130.00 $143.77 $13.77 O $154.00 What is the total amount Rachel pays for the clothes? 3 of 4 Payment Interest Principal $14.00 $2.38 $11.62 $14.00 $2.17 $11.83 $14.00 $1.95 $12.05 $14.00 $1.73 $12.27 $14.00 $1.51 $12.49 $14.00 $1.28 $12.72 $14.00 $1.05 $12.95 $14.00 $0.81 $13.19 $14.00 $0.57 $13.43 $14.00 $0.32 $13.68 $3.77 Remaining Balance $118.38 $106.55 $94.50 $82.23 $69.74 $57.02 $44.07 $30.88 $17.45 $3.77 $0.00 Next 80%
Transcribed Image Text:9:21 PM Mon Feb 27 (4) 110 ? > Listen primaverahs.strongmind.com Costs of Credit Cards Billing Payment Date Date Mar. 3 Apr. 3 May 3 June 3 July 3 Aug. 3 Sept. 3 Oct. 3 Nov. 3 Dec. 3 Jan. 3 Rachel buys clothes from an online retailer. Her purchase total is $130, and she pays with her credit card. The card has a 22% annual interest rate, and her minimum payment is $14.00. Payments are due on the 9th of every month. Her payment schedule follows. Starting balance: $130.00 Mar. 7 Apr. 7 May 7 June 7 ●●● July 7 Aug. 7 Sept. 7 Oct. 7 Nov. 7 Dec. 7 Jan. 7 Workbook O $130.00 $143.77 $13.77 O $154.00 What is the total amount Rachel pays for the clothes? 3 of 4 Payment Interest Principal $14.00 $2.38 $11.62 $14.00 $2.17 $11.83 $14.00 $1.95 $12.05 $14.00 $1.73 $12.27 $14.00 $1.51 $12.49 $14.00 $1.28 $12.72 $14.00 $1.05 $12.95 $14.00 $0.81 $13.19 $14.00 $0.57 $13.43 $14.00 $0.32 $13.68 $3.77 Remaining Balance $118.38 $106.55 $94.50 $82.23 $69.74 $57.02 $44.07 $30.88 $17.45 $3.77 $0.00 Next 80%
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