Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle Previous balance Billing date Payment Charge: Home Depot Payment Cash advance 9/16 9/19 $ 1,400 2$ 54 cr. 9/30 1, 200 10/3 54 cr. 10/7 64 Finance charge is 1.25% on average daily balance. Average daily balance Finance charge

Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle Previous balance Billing date Payment Charge: Home Depot Payment Cash advance 9/16 9/19 $ 1,400 2$ 54 cr. 9/30 1, 200 10/3 54 cr. 10/7 64 Finance charge is 1.25% on average daily balance. Average daily balance Finance charge

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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Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 Credit $10.00 October 25 Purchase $124.60 average daily balance = $?
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $120 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $26.59 October 16 Credit $10.00 October 25 Purchase $121.60 average daily balance = $
Dallas Pierce’s most recent credit card statement follows. His finance charge is 18% APR. Calculate Dallas’s average daily balance, finance charge, and new balance. (Round your final answers to the nearest cent.) 30-day billing cycle 9/2 Billing date $ 1,070 previous balance 9/7 Payment $ 260 cr. 9/13 Charge: Kohl’s $ 450 9/17 Payment $ 280 cr. 9/28 Charge: WalMart 95
Calculate average daily balance: (Round your answer to the nearest cent.) 29 Day Billing Cycle 9/6 Balance $600 9/18 Payment $200 9/24 Charge $300 Average daily balance
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $27.59 October 16 Credit $20.00 October 25 Purchase $124.60 average daily balance = $
Use the average daily balance method to compute the finance charge on the credit card account for the month of august (31 days). The starting balance from the previous month is $240. The transactions on the account for the month are given in the table. Assume an annual interest rate 17% on the account and that the billing date is august 1. 8/5 payment of $89 8/12 charged $130 8/16 charged $27 8/25 charged $26 what is finance charge of august
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.1% per month on the average daily balance Find (a) the average daily balance, (b) the monthly finance charge, and (e) the account balance for the next billing Previous Balance: $485.26 January 13 Billing Date January 15 Retums January 20 Clothes January 27 Bus Sickets February 2 Payment February 6 Flowers $105.09 $114.34 $76.83 $130 $64.41 (a) The average daily balance is (Round to the nearest cent as needed.) (b) The finance charge is (Round to the nearest cent as needed) (c) The account balance for the next billing is $ (Round to the nearest cent as needed.)
The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is March 1 through March 31, the previous balance was $152.72, and the annual simple interest rate is 21%. (Round your answers to the nearest cent.) March 5 payment $20.00 March 17 tools $35.43 average daily balance $ finance charge $
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
Calculate the average daily balance (in $) for October for a revolving credit account with a previous month's balance of $130 and the following activity. (Round your answer to the nearest cent.) Date Activity Amount October 3 Cash advance $50.00 October 7 Payment $75.00 October 10 Purchase $28.59 October 16 Credit $20.00 October 25 Purchase $122.60 average daily balance = $ ___
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 EIER
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 Monthly Periodic Finance Purchases Payments and Credits New Previous Percentage Rate (APR) (as a %) Charge (in $) and Cash Advances Balance Balance (in $) Rate $2,450.00 % 1% $1,334.98 $400.00

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