Arnold Brown has a Visa Card with an annual percentage rate of 18.0%. The unpaid balance for his June billing cycle is $1,341.57. During the billing cycle he burchased a printer cartridge for $40.41, books for $279.32 and gasoline for $16.91. He made a payment of $1,100. If the account applies the unpaid balance method, vhat are the finance charge and the new balance? The finance charge is $ Round to the nearest cent as needed.) The new balance is $

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Q: will be received and posted on the 10th of each month. No other charges will be made on the account.…

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Q: 2. Mr. Reis has these daily balances on his credit card for his last billing period. He did not pay…

A: Average daily balance is the average of the monthly expenses. The total balance is calculated by…

Q: Shiing Shen Chern's credit card company determines his minimum monthly payment by adding all new…

A: Credit Card: A credit card is a short-term bank loan, on which the borrower has to pay interest,…

Q: Arnold Brown has a Visa Card with an annual percentage rate of 19.2​%. The unpaid balance for his…

A: Finance Charge: It refers to the amount of interest you'll pay on a loan, and it's most commonly…

Q: Using the unpaid balance method, find the current month's finance charge on a credit card account…

A: The Finance charge is basically the expense or cost which one incurs whether being the individual,…

Q: Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous…

A: A credit card is a payment card that allows a cardholder to borrow money from a financial…

Q: Kim received a credit card statement that has a new balance of $245.98 and a minimum payment of…

A: The interest on the credit card refers to the amount that the issuing company charges on the use of…

Q: 16. The billing cycle for Mr. Lang´s credit card begins on September 8 and ends on October 7. He is…

A: Given: Credit Card Billing Period: Sept 8  to Oct 7 Previous Balance: $458 Annual Interest Rate: 19%…

Q: On October 24, you plan to purchase a $1,200 computer by using one of your two credit cards. The…

A: (a) Let's first calculate the interest charged by the Silver Card: The…

Q: (a) During the September 20 through October 19 billing period, you pay the minimum required payment…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: You had a balance of $2,100 last month after your payment on your credit card. You charged one pair…

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A: Principal amount : It is the initial or the total amount that is being borrowed by an individual…

Q: how long will it take for teh account to be paid off?

A: Formula for loan amortization A= [i*P*(1+i)^n]/[(1+i)^n-1] Formula for calculating number of…

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A: Interest rate = 1% Purchase from credit card = $3,600Outstanding balance at month end = $3,600

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A: Previous Month's Balance = $646.17 Finance = $14.54 Purchases and Cash Advances = $32.45 Payments…

Q: please step by step solution.

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Q: Use the unpaid balance method to find the finance charge on the credit card account. Last month's…

A: Here,Last Month Balance is $440Payment is $330Interest Rate is 19.20%Method is Unpaid Balance Method

Q: What would Jerrod's finance charges be for the month?

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A: A revolving credit account is the kind of account that gives you access to a set limit of money i.e.…

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A: On the credit there are monthly interest are charged on the previous balance.

Q: Ryan Gray, a student at State College, has a balance of $330 on his retail charge card; if the store…

A: Interest amount is calculated using the following formula:

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.