ACCOUNT INFORMATION Type Revolving Account Number 234 98765 90 Billing Date 16 Aug Payment Due Date 1 Sep DEBITS/CREDITS (-) $442.21 I -$220 1 $64.58 $887 $633.97 TRANSACTIONS 6 AUG 7 AUG 8 AUG 10 AUG 15 AUG 16 AUG Meghan's Shop Payment Joe's Italian Restaurant University of New York SkyHigh Airlines 1

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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Question
A-D
ACCOUNT INFORMATION
Type
Revolving Account Number 234 98765 90 Billing Date 16 Aug
TRANSACTIONS
6 AUG
7 AUG
8 AUG
10 AUG
15 AUG
16 AUG
SUMMARY
Meghan's Shop
Payment
Joe's Italian Restaurant
University of New York
SkyHigh Airlines
Payment
Previous
Balance
$761.44
Total Credit Line
Total Available Credit
Payments
/Credits
a.
New
Purchases
b.
$5,000.00
d.
Late
Charge
$0.00
Average
Daily
Balance
$446.41
Finance
Charge
$6.70
# Days
in Billing
Cycle
30
Payment Due Date 1 Sep
DEBITS/CREDITS (-)
$442.21 I
-$220
$64.58
New
Balance
C.
APR
18%
$887
$633.97
-$630
Minimum
Payment
$25.00
Monthly
Periodic
Rate
1.5%
Transcribed Image Text:ACCOUNT INFORMATION Type Revolving Account Number 234 98765 90 Billing Date 16 Aug TRANSACTIONS 6 AUG 7 AUG 8 AUG 10 AUG 15 AUG 16 AUG SUMMARY Meghan's Shop Payment Joe's Italian Restaurant University of New York SkyHigh Airlines Payment Previous Balance $761.44 Total Credit Line Total Available Credit Payments /Credits a. New Purchases b. $5,000.00 d. Late Charge $0.00 Average Daily Balance $446.41 Finance Charge $6.70 # Days in Billing Cycle 30 Payment Due Date 1 Sep DEBITS/CREDITS (-) $442.21 I -$220 $64.58 New Balance C. APR 18% $887 $633.97 -$630 Minimum Payment $25.00 Monthly Periodic Rate 1.5%
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