please help me fast 3. You received your first credit card statement in the mail.Statement from: December 15 toJanuary 14The Christmas ShoppeCredit Card Statement12/1712/2212/24Previous Balance $282.94$21.39$92.18$15.79Toys for YouSimpson's BakeryNew Balance$282.94PaymentsInterest Charged $0New PurchasesMinimum PaymentAnnual Interest 12.9%Available Credita) Calculate the amount of new purchases made this month.b) What is your new balance?c) The minimum payment is the greater of 3% or $20. Determine your minimum payment for this month.d) If your credit limit is $1500, what is your available balance?e) Calculate the daily interest rate. Express the answer as a decimal and a percent rounded to four decimal place

The attached image is a Credit card Statement. Every month, the statement is shared to the account…

a) Calculate the amount of new purchases made this month. b) What is your new balance? c) The minimum payment is the greater of 3% or $20. Determine your minimum payment for this month. d) If your credit limit is $1500, what is your available balance? e) Calculate the daily interest rate. Express the answer as a decimal and a percent rounded to four decimal pla-

a) Calculate the amount of new purchases made this month. b) What is your new balance? c) The minimum payment is the greater of 3% or $20. Determine your minimum payment for this month. d) If your credit limit is $1500, what is your available balance? e) Calculate the daily interest rate. Express the answer as a decimal and a percent rounded to four decimal pla-

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter11: Accounting For Transactions Using A General Journal

Section11.2: Recording Sales Transactions Using A General Journal

Problem 1WT

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Homework: Section 8.8 Assignment The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. Question 7, 8.8.1 Part 3 of 4 Help me solve this Transaction Description Previous balance, $6240.00 March 1 Billing date March 5 Payment $400.00 credit $50.00 March 7 Charge: Restaurant March 12 Charge: Groceries $100.00 March 21 Charge: Car Repairs $280.00 March 31 End of billing period Payment Due Date: April 9 a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ 6095.81. (Round to the nearest cent as needed.) View an example Transaction Amount b. Find the interest to be paid on April 1, the next billing date. Round to the nearest cent. The interest to be paid on April 1 is $152.40. (Use the answer from part a to find this answer.…
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Try Yourself - Question 2 Consider the following purchase history during October: Date Balance # of Days October 1 $110 8 October 9 $150 5 October 14 $260 8 October 22 $347 7 October 29 $612 3 The APR for this card is 16.45%. If the balance is not paid within the grace period, what is the total owed to the credit card company for this month? A. $261 B. $869 C. $616 D. $612 E. $704
hi tutor.Could you write down the answer?
K The credit card with the transactions described on the right uses the average daily balance method to calculate interest. The monthly interest rate is 2.5% of the average daily balance. Calculate parts a-d using the statement on the right. Transaction Description Previous balance, $6220.00 March 1 Billing date March 5 Payment March 7 Charge: Restaurant March 12 Charge: Groceries $350.00 credit $60.00 $90.00 March 21 Charge: Car Repairs $240.00 March 31 End of billing period Payment Due Date: April 9 Transaction Amount ... a. Find the average daily balance for the billing period. Round to the nearest cent. The average daily balance for the billing period is $ (Round to the nearest cent as needed.) c. Find the balance due on April 1. The balance due on April 1 is $ (Use the answer from part b to find this answer.) b. Find the interest to be paid or April 1, the next billing date. Round to the nearest cent. The interest to be paid on April 1 is $ (Use the answer from part a to find this…
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