An unpaid credit card bill for $656.95 had a due date of May 8. Purchases of $385 were made on May 15, $122.78 on May 17, and $59.67 was charged on June 2. A payment of $350 was made on May 25. Find the finance charge due on June 8 if the interest rate on the average daily balance is 1.4%.
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- A credit card account’s due date is June 9, and the outstanding balance on that day is $460. On that same day, the card holder sends in a payment of $75 and uses the card for a $20 purchase. The card is used again on June 13th and June 24th for purchases of $154 and $54, respectively. If the credit card interest rate on the average daily balance is 2.5% per month, what is the finance charge for the month? Round your answer to the nearest cent.You get a credit card. The bill for $1024 was due on July 1. Purchases of $315 were made on July 7, and $410 was charged on July 22. A payment of $400 was made on July 15. The interest on the average daily balance is 1.2% per month. Find the finance charge on the August 1 bill.A credit card balance at the beginning of November is $4,000. On Nov. 3 a $300 charge is made. On Nov. 8 a $1000 charge is made. On Nov. 15 a $900 payment is made. On Nov. 17 a $200 charge is made. On Nov. 21 a $800 charge is made. using the average daily balance method, Caculate the interest charged if the account has a 17.5% rate and the billing period is 30 days.
- A credit card has a monthly rate of 1.23%. In the January 1-January 31 itemized biling, the average daily balance is $706 23. The payment due date is February 9. Find the interest due on this date using the average daily balance method. Round answer to the nearest cent EIERA credit card account had a balance of $959 on May 5. A purchase of $285 was made on May 17, and a payment of $150 was made on May 20. The interest on the average daily balance is 1.5% per month. Find the average daily balance on the June 5 bill. (Round your answer to the nearest cent.On September 10, a credit card account had a balance of $450. A purchase of $47 was made of September 20, and $157 was charged on September 25. A payment of $175 was made on September 28. The interest rate on average daily balance is 1.25% per month. Find the finance charge on October 10 bill.
- A credit card has a monthly rate of 1.6% and uses the average daily balance method for calculating interest. Here are some of the details in the June 1-June 30 itemized billing: June 1 Unpaid Balance: $450.98 Payment Received June 9: $130 Purchases Charged to the Account: $259.1 Average Daily Balance: $355.65 Last Day of the Billing Period: June 30 Payment Due Date: July 9. Click the icon to view the table. O A. a. $5.51 b. $326.49 c. $20.00 O c. a. $5.69 b. $585.77 c. $58.58 a. Find the interest due on the payment. due date. b. Find the total balance owed on the last day of the billing period. c. Minimum payment terms are shown in the accompanying table. What is the minimum payment due by July 9? C OB. a. $5.76 b. $320.98 c. $20.00 OD. a. $5.76 b. $676.63 3. $58.58On November 1, the balance on your credit card is $533.76. On November 6, you make a purchase for $49.30. On November 8, you make a payment of $155. On November 12, you make a purchase for $76.51, and on November 25, you make a purchase for $32.64. Assume the billing date is the 1st of the month and the monthly finance charge is 1.7%. What is the average daily balance? $ What is the monthly finance charge? $ What is the balance at the start of the next month? $The credit card with the itemized billing statement below uses the average daily balance method to calculate interest. The monthly interest rate is 1.7%. Find the minimum monthly payment due on July 9 if the minimum monthly payment is 1/25th of the balance due on July 1st, rounded up to the nearest dollar. Show work. Transaction description Previous balance, $2645.04 Billing Date Payment Charge: Gas Charge: groceries End of billing period June 1 June 6 June 8 June 17 June 30 Payment Due Date: July 9 Transaction amount $1800.00 credit $41.37 $130.01
- The balance on Ramon Felipe's credit card on January 20, his billing date, was $205.12. For the period ending February 20, 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 20. Assume an interest rate of 1.2% per month. c) Find the balance due on February 20. a) The average daily balance for the billing period was $ (Round to the nearest cent as needed.) b) The finance charge to be paid on February 20 is $ (Round to the nearest cent as needed.) c) The balance due on February 20 is $ (Round to the nearest cent as needed.) January 23 January 29 February 7 February 9 Charge: Restaurant meal Payment Charge: Lawn ornaments Charge: Microwave oven $47.21 $160.00 $57.92 $127.22The 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. a. Find the average daily balance for the billing period. Round to the nearest cent.The average daily balance for the billing period is $_ B.Find the interest to be paid on April 1, the next billing date.Round to the nearest cent. C.Find the balance due on April 1.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 1.6% of the average daily balance. A. Find the average daily balance for the billing period. B.Find the interest to be paid on july 1, the next billing date. C.Find the balance due on july 1.