Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00

Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00

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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Use the average daily balance method to compute the finance charge on the credit card account for the month of August (31 days). The starting balance from the previous month is $230. 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 August 1st. The finance charge for the month of August is $. (Round to the nearest cent as needed.) Date August 6 August 14 August 20 August 25 Transaction Made payment of $85 Charged $140 for hiking boots Charged $17 for gasoline Charged $25 for restaurant meal
dathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $640.00 $ $123.97 $75.00 $
Assume that you start with a balance of $3600 on your credit card. During the first month, you charge $400, and during the second month, you charge $550. Assume that your credit card charges a 29% APR and that each month you make only the minimum payment of 2.5% of the balance. Complete the following table. (Round your answers to the nearest cent.) Finance Charge (+) Previous Purchases Payments (-) New Balance Balance (+) Month 1 Month 2
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Previous Month Month's Balance March $680.00 $ Need Help? Read It Finance Charge (in $) Purchases and Cash Advances $124.97 Payments and Credits $95.00 New Balance End of Month (in $) LA
whats the answer to number 1?
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. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $720.00 $ $129.97 $65.00 $
Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month’s balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. (round your answer to the nearest cent.)
Assume that you start with a balance of $630 on your credit card. During the first month, you charge $180 and make a payment of $400. During the second month, you charge $100 and make a payment of $320. Assume that your credit card charges a 20% APR. Complete the following table. (Round your answers to the nearest cent.) Previous Balance Finance Charge (+) Purchases (+) Payments (-) New Balance Month 1 Month 2
Journalize the following entries on the books of the borrower and creditor. (Assume a 360-day year is used for interest computations.) June 1 Regis Co. purchased merchandise on account from Winthrop Co., $60,000, terms n/30. The cost of merchandise sold was $36,000. 30 Regis Co. issued a 60-day, 5% note for $60,000 on account. Aug. 29 Regis Co. paid the amount due. Regis Co. (Borrower). If an amount box does not require an entry, leave it blank. June 1 fill in the blank 0fa28bf87f8205e_2 fill in the blank 0fa28bf87f8205e_3 fill in the blank 0fa28bf87f8205e_5 fill in the blank 0fa28bf87f8205e_6 June 30 fill in the blank 0fa28bf87f8205e_8 fill in the blank 0fa28bf87f8205e_9 fill in the blank 0fa28bf87f8205e_11 fill in the blank 0fa28bf87f8205e_12 Aug. 29 fill in the blank 0fa28bf87f8205e_14 fill in the blank 0fa28bf87f8205e_15 fill in the blank 0fa28bf87f8205e_17 fill in the blank 0fa28bf87f8205e_18 fill in the blank…
Candida has a revolving credit account at an annual percentage rate of 24%. Her previous monthly balance is $569.79. 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) $254.21 O $500.19 O $550.19 O $658.17 O $769.17 O O O
Calculate the average daily balance and finance charge. (Round your answers to the nearest cent.) 30-day billing cycle Previous balance 9/16 Billing date Payment Charge: Home Depot Payment Cash advance $ 1,400 9/19 54 cr. 9/30 10/3 10/7 1,200 54 cr. 64 Finance charge is 1.25% on average daily balance. Average daily balance Finance charge %24
Lizzie Gunderson is trying to establish a credit history and applied for a Visa credit card. She paid the previous month's statement balance in full. The card carries a finance charge rate of 16%. What is the amount of finance charge if Lizzie pays off the current $168.20 monthly statement balance in full?

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