Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,400 9/19 Payment $ 64 cr. 9/30 Charge: Home Depot 1,700 10/3 Payment 64 cr. 10/7 Cash advance 74 Finance charge is 1.25% on average daily balance.
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle 9/16 Billing date Previous balance $ 2,400 9/19 Payment $ 64 cr. 9/30 Charge: Home Depot 1,700 10/3 Payment 64 cr. 10/7 Cash advance 74 Finance charge is 1.25% on average daily balance.
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 and finance charge. (Round your answers to the nearest cent.)
30-day billing cycle | |||||
9/16 | Billing date | Previous balance | $ 2,400 | ||
9/19 | Payment | $ | 64 cr. | ||
9/30 | Charge: Home Depot | 1,700 | |||
10/3 | Payment | 64 cr. | |||
10/7 | Cash advance | 74 | |||
Finance charge is 1.25% on average daily balance.
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