Drill Problem 14-7 (Algo) [LU 14-2 (1)]Calculate the average daily balance and finance charge on the statement below.Note: Round your answers to the nearest cent.9/169/19Billing datePayment9/3010/3Charge: Home DepotPayment10/730-day billing cyclePrevious balance$ 2,600$ 66 CreditCash advanceFinance charge is 1.5% on average daily balance.1,80066 Credit76

Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 30-day billing cycle Previous balance 9/16 9/19 Billing date Payment 9/30 10/3 10/7 Charge: Home Depot Payment Cash advance Finance charge is 1.5% on average daily balance. $ 66 Credit 1,800 66 Credit 76 $ 2,600

Calculate the average daily balance and finance charge on the statement below. Note: Round your answers to the nearest cent. 30-day billing cycle Previous balance 9/16 9/19 Billing date Payment 9/30 10/3 10/7 Charge: Home Depot Payment Cash advance Finance charge is 1.5% on average daily balance. $ 66 Credit 1,800 66 Credit 76 $ 2,600

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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uppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $389.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.) Statement of Account Billing cycle: July 1–31 DATE DESCRIPTION OF TRANSACTIONS CHARGES July 04 Kit and Capoodle Pets $109.08 July 08 Payment 61.00 July 16 Cash advance 98.82 July 22 Mountain Vineyards 31.37 July 29 Vu Video (credit) 95.97 $
Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) Monthly Periodic Annual Finance Purchases Payments New Previous Charge and Cash and Balance Percentage Rate (APR) Balance Rate (in $) Advances Credits (in $) (as a %) $1,029.61 % 1.25% $ $322.20 $200.00 $
Calculate the missing information on the following revolving credit accounts. Interest is calculated on the unpaid or previous month's balance. Do not enter the percent symbol in your answer. Round your answers for finance charge and new balance to the nearest cent. Annual Monthly Purchases Payments Previous Percentage Periodic Finance and Cash and New Balance Rate (APR) Rate Charge Advances Credits Balance $862.25 0.25% $156.80 $417.00
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $200 balance, 17%, $50 payment (a) previous balance method$ (b) adjusted balance method$ (c) average daily balance method
so.4 A credit card has a $730 balance and a 18.44% annual percentage rate the minimum required monthly payment is 2.83% of the balance estimate the credit card balance after 54 payments.
Need answer the question
LATION Saved V Mailings Review View Help Grammarly lity: Investigate O Search (Alt+Q) The balance on a credit card, that charges a 10.5% APR interest rate, over a 1 month period is given in the following table: I Days 1-5: $200 (initial balance) Days 6-20: $350 ($150 purchase) Days 21-30: $150 ($200 payment) What is the finance charge, on the average daily balance, for this card over this 1 month period? finance charge = $ [?] Round to the nearest hundredth. DELL Enter
Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) Annual Purchases Payments Monthly Periodic Finance New Previous Percentage Rate (APR) (as a %) Charge (in $) and Cash and Balance Balance Rate Advances Credits (in $) $2,450.00 $1,334.98 $400.00 4
You have a revolving credit account at an annual percentage rate of 18%. Use the average daily balance method to find the new balance given the following statement of account.

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