If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and the following transactions? (Round your answer to the nearest cent.) 31-day billing cycle $ 1,173 $ 70 cr. 10/1 Previous balance 10/3 Credit Charge: King Soopers $ 157 $ 400 cr. $ 330 10/12 10/15 Payment 10/25 Charge: Delta 10/30 Charge: Holiday Fun $ 70

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 8FPE
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If you are trying to build credit by using a credit card, each time you make a purchase with the credit card,
deduct that amount from your checking account. That way, when your credit card bill is due, you will have
enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her
credit card bill in full this month. How much does she owe with a 6% APR and the following
transactions? (Round your answer to the nearest cent.)
31-day billing cycle
$ 1,173
$ 70 cr.
10/1
Previous balance
10/3
Credit
10/12
Charge: King Soopers $ 157
$ 400 cr.
$ 330
10/15
Payment
10/25
Charge: Delta
10/30
Charge: Holiday Fun $ 70
Transcribed Image Text:If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and the following transactions? (Round your answer to the nearest cent.) 31-day billing cycle $ 1,173 $ 70 cr. 10/1 Previous balance 10/3 Credit 10/12 Charge: King Soopers $ 157 $ 400 cr. $ 330 10/15 Payment 10/25 Charge: Delta 10/30 Charge: Holiday Fun $ 70
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