Mr. Carlson's credit card was lost on a vacation. He did not notice it was gone for three days nd then reported it missing. The person who found it days earlier used it and charged c dollars orth of merchandise on the card before it was reported missing, where c> $50. How much of ec dollars is Mr. Carlson responsible for paying?

Mr. Carlson's credit card was lost on a vacation. He did not notice it was gone for three days nd then reported it missing. The person who found it days earlier used it and charged c dollars orth of merchandise on the card before it was reported missing, where c> $50. How much of ec dollars is Mr. Carlson responsible for paying?

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter7: Credit Cards And Consumer Loans

Section: Chapter Questions

Problem 4FPC

See similar textbooks

Similar questions

6. Austin's bank has a $45 overdraft fee. On Friday morning Austin had $345.78 in his checking account. Friday night a payment to AT&T was automatically withdrawn from his account in the amount of $210.15. Over the weekend Austin withdrew $100 cash and made purchases with his debit card in the amounts of $65.34, $24.99, $6.75 and $42.87. What was Austin's balance on Monday morning? ASUS
46. Jill's credit card was stolen. The thief charged a $500 kayak before shereported it stolen. How much of the thief's purchase is Jill responsible for?A. $0B. $100C. $500D. $50
Exposure from stolen ATM card. Suppose someone stole $1,000 dollars from your checking account. How much money could you lose if you reported the card to the bank the day it was stolen, 6 days later, and after you receive your periodic statement?
An individual spends $20 per day. Suppose that this person pays for all her purchases using her credit card. She withdraws no money from her bank account until the morning of the fourth day, when she withdraws the whole amount necessary to pay for her credit card purchases over the previous four days.
Helen was a very forgetful person, so she had placed her bank code (PIN number) on the back of her debit card. A thief stole Helen’s card and was able to take $100 from an ATM on the day of the theft. That same day, Helen realized that the card was gone and phoned her bank. The following morning, the thief withdrew another $100. For how much, if anything, is Helen responsible? Why?
5) Jon has a credit limit of $15,000 on his credit card. He had a previous balance of $427.51. He made a payment of $400. The total of his purchases that cycle was $989.22. What is Jon's available credit?
1. Adrian is a bank manager. A customer Neo has come into the bank. Neo has a mortgage loan with the bank. Neo claims he has lost his job and will not be able to pay the loan back. His monthly payment is $1,000. Neo offers Adrian $7,500 as an accord and satis-faction. Can Neo enter into an accord and satisfaction with the bank? If not, how can he extinguish his liability to the bank? 2. Adrian is a bank manager. A customer Neo has come into the bank. Neo has a mortgage loan with the bank. Neo claims he has lost his job and will not be able to pay the loan back. His monthly payment is $1,000. Neo offers Adrian $7,500 as an accord and satis-faction. Can Neo enter into an accord and satisfaction with the bank? If not, how can he extinguish his liability to the bank?
Mr. Smith did not pay his full credit card balance on June 5th, the due date each month for payment. The unpaid balance was $800. He purchased a new washing machine on credit on June 30 for $1,000. If interest is charged at a rate of 18%, compounded daily, what would be the interest charge on his next credit card bill using the average daily balance method? a) $26.63 b) $21.77 c) $14.79 d) $13.32
. Mr. Ahmed issued a cheque for RO 5,000 to Mr. Khalid by drawing two cross lines on it, but failed to write words (payee a/c) in between two lines. Do you think Mr. Khalid can get the cash payment on the bank counter? Give reasons.
Sidney took a $300 cash advance by using checks linked to her credit card account. The bank charges a 2 percent cash advance fee on the amount borrowed and offers no grace period on cash advances. Sidney paid the balance in full when the bill arrived. a)What if she had made the purchase with her credit card and paid off her bill in full promptly? Assume the credit card has a grace period.
Jane has written out a check to Manny for $100. Unfortunately, the check was stolen by Stringer Bell who sold it to Freddy for $90. Stringer signed Manny's name even though he is not Manny. Freddy has no idea of the wrongdoing. Freddy presents the check to the bank but Jane and the bank say, "No way". Can Freddy get the $100? How?
Kindly assist with the question below. If the entire balance is not paid off by the due date, simple interest is charged from the posting date until the due date. a) Joseph bought a stereo system on his credit card which is due on May 14 for 2759.43. He doesn't make a payment until May 27. The interest rate is 19%. How much interest will be charged until his due date? b) what is his new balance? c) How much does he owe in interest?