f1 esWord Problem 14-20 (Static) [LU 14-2 (1)]Cindi Cavalier was furloughed from her job at Red Robin Garden Store for six months at the start of the pandemic. She normally haspaid her credit card off each month. Because of being furloughed, however, she has been unable to. Calculate Cindi's average dailybalance, finance charge, and new balance. Her finance charge is 17% APR.Note: Do not round intermediate calculations. Round your final answers to the nearest cent.30-day billing cycleJune 1June 3Previous balance$868Charge, Safeway102June 10Charge, CS Utilities225June 15Credit, Amazon75June 20Charge, Shell68June 2950Average daily balanceFinance chargePaymentNew balance

Step 1: Determine the number of days for each outstanding balances.June 1 to June 2 = 2 daysJune 3…

Answered: es Word Problem 14-20 (Static) [LU 14-2…

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter6: Using Credit

Section: Chapter Questions

Problem 3FPE

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Saint Paul ne Apote n ts 0. Kyle used the equation y = 300(1.09)* , where x represents months and y represents the amount ne owes, to predict how much he has to pay on his credit card bill if he does not make any payments each month. a. What is Kyle's original credit card bill? b. What is the interest rate on his credit card? С. How much money will Kyle owe if he does not pay off his balance for 6 months? 9. The population of the deer on Walla Walla Island doubles every year. The island began with 8 deer. Write a function that models the change in the animal population: a. b. How many deer will there be after 5 years? How many deer will there be after 10 years? С.
Jerry Allison starts the month with a balance on his credit card of $1,180. On the 10th day of the month, he purchases $340 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $450. The bank charges 1.5 percent interest per month using the previous balance method. What would Jerry's finance charges be for the month? Multiple Choice $17.70 $20.90 $15.20 $25.70 $18.90
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Last month Caitlins average daily balance on her credit card was $1354.68 the annual interest rate on that card is 17.59% the minimum payment on that card is the interest charge +3% of the ending balance our $25 which ever is greater if there were 30 days in that month and the ending balance was $1947.35 what was the minimum payment that Kaitlyn could make
F1
Dallas Pierce's most recent credit card statement follows. Her finance charge is 18% APR. Calculate Dallas's average daily balance, finance charge, and new balance. Note: Round your final answers to the nearest cent. 9/2 9/7 9/13 9/17 9/28 Average daily balance Finance charge New balance 30-day billing cycle Billing date Payment Charge: Kohl's Payment Charge: WalMart $1,110 $340 $ 330 320 115 Previous balance Credit Credit
1. Alev has a $300 balance on her credit card that she forgot about. Each month, the balance increases by 13% due to compound interest. How much will her balance be 6 months from now if she continues to forget and not make any payments? Show your work AND explain your thinking.
2) Chris had these daily balances on his credit card for his last billing period. He did not pay the card in full the previous month, so he will have to pay a finance charge. The APR is 25.2%. 8 days @ $223.25 6 days @ $779.00 6 days @ $2,290.50 10 days @ $1,311.25 a) What is the average daily balance? Round to the nearest cent. b) What is the finance charge? Round to the nearest cent.
Dallas Pierce’s most recent credit card statement follows. His finance charge is 15% APR. Calculate Dallas’s average daily balance, finance charge, and new balance. (Round your final answers to the nearest cent.)
Please provide answer
Jerrod Dean starts the month with a balance on his credit card of $1,060. On the 10th day of the month, he purchases $220 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $350. The bank charges 1.5 percent interest per month using the adjusted balance method (and excludes new purchases). What would Jerrod's finance charges be for the month? Multiple Choice $11.34 $15.90 $19.20 $13.26 $10.65
pts Jerrod Dean starts the month with a balance on his credit card of $1,110. On the 10th day of the month, he purchases $210in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $250. The bank charges 1.5 percent interest per month using the adjusted balance method (and excludes new purchases). What would Jerrod's finance charges be for the month?$9.90$11.40$8.40$12.90

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