Deepa has a revolving credit account at an annual percentage rate of 18%. Her previous monthly balance is $240.97. Find the new balance if Deepa's account showed the following activity. Use the unpaid balance method. STATEMENT OF ACCOUNT Billing cycle: March 1 -31 Choi Home Repair $28.59 31.30 March 3 March 11 March 15 March 20 March 28 Payment Fancy Flowers (credit) Dreamscape Landscaping Cash advance 82.74 40.27 107.90

Deepa has a revolving credit account at an annual percentage rate of 18%. Her previous monthly balance is $240.97. Find the new balance if Deepa's account showed the following activity. Use the unpaid balance method. STATEMENT OF ACCOUNT Billing cycle: March 1 -31 Choi Home Repair $28.59 31.30 March 3 March 11 March 15 March 20 March 28 Payment Fancy Flowers (credit) Dreamscape Landscaping Cash advance 82.74 40.27 107.90

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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Candida has a revolving credit account at an annual percentage rate of 24%. Her previous monthly balance is $529.79. Find the new balance using the previous month's balance method if Candida's account showed the following activity. Payment $143.30 Country Lumber (charge) $230.18 Zahir Antiques (credit) $358.05 Mountain Vineyards (charge) $204.94 Bart's Garage (charge) $294.21 $499.39 $549.39 $657.37 $768.37
Suppose that you made three purchases using your credit card during the month of January. The first purchase was on January 8th for $490 . The second purchase was on January 19th for $269. The third purchase was on January 24th. If your average daily balance for January was $665, what was the dollar amount of your last purchase? Remember: There are 31 days in January. You made no purchases between January 1st and January 7th. This question is not asking for the card's final January balance. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
4
Kimberly has a revolving credit account at an annual percentage rate of 15%. Her previous monthly balance is $744.19. Find the new balance if Kimberly's account showed the following activity. (Use the unpaid balance method.) STATEMENT OF ACCOUNT Billing cycle: May 1-31 May 7 Cleaning Supplies $ 88.76 May 10 Payment 115.00 May 14 Jim's Appliance (credit) 290.72 May 19 Jen's Catering 354.12 May 28 Jackie's Garage 783.92 $783.92 O $1,574.57 $2,000.00 O $2,386.01
Nancy is reviewing her November credit card statement. Her beginning balance was $605 and she made a $175 payment on November 10. She made purchases of $100 on November 5, $120 on Novemeber 15, and $45 on November 30. Her APR is 14% and the interest was charged using the average daily balance method, including current purchases, which considers the day of a charge or credit. Answer parts 1 through 5. 1. Find the unpaid balance on November 30 before interest is charged. The unpaid balance before interest is $
On August 2, Jun Co. receives a $7,300, 90-day, 12% note from customer Ryan Albany as payment on his $7,300 account. 1. Compute the maturity date for the above note. multiple choice October 29 October 30 October 31 November 1 November 2 2. Prepare Jun’s journal entry for August 2. 1 Record receipt of note on account.
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For the accounts receive and interest revenue I for march 20, I got 13, however its wrong, can you tell me what I am doing wrong? our answer is partially correct. Try again. On January 10, Molly Amise uses her Windsor, Inc. credit card to purchase merchandise from Windsor, Inc. for $1,500. On February 10, Molly is billed for the amount due of $1,500. On February 12, Molly pays $1,300 on the balance due. On March 10, Molly is billed for the amount due, including interest at 1% per month on the unpaid balance as of February 12.Prepare the entries on Windsor, Inc.’s books related to the transactions that occurred on January 10, February 12, and March 10. (Omit cost of goods sold entries.) (Round answers to 0 decimal places, e.g. 825. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit choose a transaction…
Use the unpaid balance method to find the finance charge on the credit card account for April. The starting balance from the previous month is $200. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 18% on the account and that the billing date is April 1st. ..... Date Transaction April 3 Charged $125 for a coat April 11 Made payment of $142 April 21 Charged $34 for DVDs April 28 Charged $25 for groceries The finance charge for the month of April is $enter your response here.
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 21%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.) Month PreviousMonth'sBalance(in $) FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) April $647.17 $11.33 $38.45 $85.00 $611.95 May $ $ $284.33 $125.00 $
On the April 5 billing date, Michaelle Chappell had a balance due of $1145 54 on her credit card From April 5 through May 4, Michaelle charged an additional $408 76 and made a payment of $900 a) Find the finance charge on May 5, using the previous balance method Assume that the interest rate is 11% per month b) Find the new balance on May 5 CITE a) The finance charge on May 5 is (Round to the nearest cent as needed
You have a Visa credit card account lemi with a 24.99% annual percentage rate calculated on the average daily balance. The billing date is the first day of each month, and the billing cycle is the number of days in that month. Your credit card balance on June 1 was $252. On June 8th you made a $109 purchase. You made another purchase, a $75 gift card, on June 18th. You made a $100 payment on June 28th. Show your work for all parts of the problem. (a) What is the average daily balance for July? (b) What is your finance charge on the account as of July 1st? (c) What is your new credit card balance?

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