Juanita has good credit and gets the lowest interest rate possible for her credit card. She has a balance of $982 on her January statement. What is her periodic rate?

Q: Mary's credit card situation is out of control because she cannot afford to make her monthly…

A: Monthly payment refers to the function of time, the value of money that is paid for the repayment of…

Q: 2. Janine has two choices for paying off her credit card balance. She can make payments of $186 per…

A: Credit cards allow the cardholder to pay for their purchases based on the promise that they will be…

Q: Last month, Kaitlin's average daily balance on her credit card was $1,253.38. The annual interest…

A: Given: Average daily balance on credit card "B"= $1253.38 Annual interest rate "r"=15.27% Number of…

Q: Last month, Kaitlin's average daily balance on her credit card was $1,356.44. The annual interest…

A: From the given information, The minimum payment on the card is the interest charge plus 2% of the…

Q: Juliana had a history of bad credit but was able to secure a new credit card with an APR of 28%.…

A: Periodic rate refers to the interest rate to be charged by the banks in against of providing credit…

Q: 13. Alec Tomita's savings account statement is shown below. What is his new balance? Previous…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Rachel Johnson has net monthly income of $3,325. She has a monthly auto loan payment of $385, a…

A: Debt-payments-to-income-ratio refers to the measurement of the ability of the company for repaying…

Q: Evaluating debt burden.  Ted Phillips has a monthly take-home pay of $1,685; he makes payments of…

A: Debt-burden is the cost of serving debt. It is the cost of interest payment of credit cards,…

Q: If you are trying to build credit by using a credit card, each time you make a purchase with the…

A: Interest Rate = 6% APR Previous Balance = $1,173 Calculation of Number of days between is as follow:…

Q: Assume simple interest and find the rate of interest paid by the bank.

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Q: 2040 1832 2872 Sue maintains an average monthly balance on her credit card of about $1340. Her…

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Q: 5) Jon has a credit limit of $15,000 on his credit card. He had a previous balance of $427.51. He…

A: Credit cards are widely accepted and provide a convenient way to make purchases without carrying…

Q: Assume that Louisa carried an average balance of $1,000 from her credit card purchases over the past…

A: Interest charges are the amount of cost and charges paid for the amount borrowed either for personal…

Q: i will be attaching the 1st question as asked but kindly answer the second question only. thanks! 1.…

A: Minimum monthly payment is that payment, which is the amount of money paid by a borrower, It is…

Q: Dallas Pierce wants to know what rate she is paying on her simple discount note. The maturity value…

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Q: Mary's credit card situation is out of control because she cannot afford to make her monthly…

A: Credit card loans are unsecured loans extended by financial institutions to individuals. These loans…

Q: Rebecca carries a balance on her credit card each month. Today is the first day of the new. 28-day…

A: A credit card is a financial service offered by banks and other financial institutions to their…

Q: types of accounts are available

A: Checking Account: Checking accounts are opened with the financial institutions and they provide max…

Q: Mr. Smith did not pay his full credit card balance on June 5th, the due date each month for payment.…

A: Interest charge refers to an amount that is being charged on the balance amount over the period that…

Q: se the information below to log Zoe’s payments and deposits in her checking account register.…

A: A checking account register keeps track of every transaction associated with your checking account,…

Q: APR stands for Annual Percentage Rate. It is the total interest rate for the entire year. However,…

A: The Annual Percentage Rate (APR) is the interest rate for the entire year. However, credit card…

Q: Samantha and Samuel both have student credit cards issued by VISA. Their credit card statements show…

A: In the scenario presented, Samantha and Samuel both hold student credit cards issued by VISA, with…

Q: June Xu is a registered nurse who earns $3,250 per month after taxes. She has been reviewing her…

A: A deposit account that allows a user to withdraw and deposits money multiple times is known as the…

Q: Samantha and Samuel both have student credit cards issued by VISA. Their credit card statements show…

A: In the scenario presented, Samantha and Samuel both hold student credit cards issued by VISA, with…

Q: Last month the average daily balance on Caitlins credit card was $1854.85 that there were 28 days in…

A: Average daily balance method of calculating the interest rate on credit card takes into account the…

Q: Mrs. Imperiale’s credit card has an APR of 13.2%. She does not ever pay her balance off in full, so…

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Q: Mary uses her credit card frequently. Which of the following is the best strategy to minimize the…

A: Credit cards are issued by banks for people holding accounts with the bank. A credit card allows the…

Credit card

A credit card is provided by financial institutions or banks, which permits a person to borrow money on a preapproved limit for purchases on a credit basis. The credit limit is decided by the institution and bank which issues a credit card depending on the person’s credit score and income. A cardholder can use the card for credit purchases, a balance transfer, cash advances.