On April 5, Jessica had a balance due on her credit card of $927.85. From April 5 through May 4, Jessica charged an additional $335.66 and made apayment of $700. Find her new balance due on May 5 assuming the previous balance method is used and the interest rate is 1.8% per month.O A. $580.21B. $1305.79C. $227.85D. $16.70

Here, Previous Balance is $927.85 Additional Charges is $335.66 Payment is $700 Interest Rate per…

Answered: On April 5, Jessica had a balance due…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter17: Accounting For Notes And Interest

Section: Chapter Questions

Problem 1CE

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The billing cycle for Mr. Lang’s credit card begins on September 8 and ends on October 7. He is carrying a balance of $458 from the previous billing cycle. During the current billing period, the following transactionsoccurred. The annual interest rate is 19% (September has 30 days). Find the average daily balance and the finance charge. Post date Description AmountSept 18 Payment $35.00Sept 26 Purchase $125Oct 3 Purchase $84 Date Range
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Nancy is reviewing her November credit card statement. Her beginning balance was $605 and she made a $175 payment on November 10. She made purchases of $100 on November 5, $120 on Novemeber 15, and $45 on November 30. Her APR is 14% and the interest was charged using the average daily balance method, including current purchases, which considers the day of a charge or credit. Answer parts 1 through 5. 1. Find the unpaid balance on November 30 before interest is charged. The unpaid balance before interest is $
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10. Elly's credit card record for the last 7 months is below. Based on the information from the table, what will be her new balance at the end of month 7? End of Month Previous New Payment Finance Principal New Balance Charges Received Charges Paid Balance 1 $0.00 $2200.00 $0.00 $0.00 $0.00 $2200.00 5 6 234567 2 $2200.00 $0.00 $44.00 $33.00 $11.00 $2189.00 $2189.00 $0.00 $43.78 $32.84 $10.95 52178.06 4 $2178.06 $0.00 $43.56 $32.67 $10.89 $2167.16 $2167.16 $0.00 $43.34 $32.51 $10.84 $2156.33 $2156.33 $0.00 $43.13 $32.34 $10.78 $2145.55 $2145.55 $0.00 $42.91 $32.18 $10.73 $?
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12)
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