Answer the questions based on the credit card statement attached. 1. What is the finance charge for the current billing period? 2. How much is the annual interest rate of his unpaid balance is over $500? Answer in: amount% For example 13% 3. How much is the annual percentage rate if he unpaid balance is less than $500? Example: 13%
Answer the questions based on the credit card statement attached. 1. What is the finance charge for the current billing period? 2. How much is the annual interest rate of his unpaid balance is over $500? Answer in: amount% For example 13% 3. How much is the annual percentage rate if he unpaid balance is less than $500? Example: 13%
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
Related questions
Question
100%
Answer the questions based on the credit card statement attached.
1. What is the finance charge for the current billing period?
2. How much is the annual interest rate of his unpaid balance is over $500?
Answer in: amount% For example 13%
3. How much is the annual percentage rate if he unpaid balance is less than $500? Example: 13%
4. What is the minimum payment due?
5. What is the total amount charged for purchases made during the previous month?
6. How much credit does Joan Berelli still have available? You must calculate this as it isn't given on the credit card statement.
7. What is the new balance?
Transcribed Image Text:RALPH'S PRETTY GOOD DEPARTMENT STORE
JOAN BERELLI
1616 ELM STREET
MIDDLETON, MA 02568
YOUR LINE OF CREDIT IS
YOUR AVAILABLE CREDIT IS
Mo. Day
FINANCE
CHARGE
HATES)
9545
Reference TRANSACTION DESCRIPTION
0012
$ 1000
use ACCOUNT NO.
on correspondence
K7605 3821 F
$ 638
** FINANCE CHARGE ON AVERAGE
DAILY BALANCE OF $363.52 IS
PAYMENT
WOMENS WEAR 29
SWEATER 43
ON AVERAGE
DAILY BALANCE OF:
5.01 TO $31.00
$31.01 TO $500.00
$500,01 AND ABOVE
BILLING
DATE
APR 12 2005
PREVIOUS
BALANCE
AMOUNT DUE
THIS STATEMENT
NEW BALANCE
AMOUNT PAID
CHARGES
5.64
MONTHLY
PERIODIC
RATE
$18.00
BALANCE
$ 372.21
PAYMENTS
& CREDITS
18.00
ANNUAL
PERCENTAGE
RATE
MIN FINANCE CHARGE $.50
MINIMUM
PAYMENT
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