On August 10, a credit card account had a balance of $320. A purchase of $51 was made on August 15, and $158 was charged on August 27. A payment of $78 was made on August 15. The interest on the average daily balance is 1.14% per month. Find the finance charge on the September 10 bill. Part 1 of 3 Based on the data provided in the problem, complete the following table. Date Payment/Purchase Balance Days Balance x Days Aug 10-14 $320 $1600 Aug 15 51 $0 Aug 15-26 -78 $293 12 $3516 Aug 27-Sept 9 158 $451 14 $ $ Total

On August 10, a credit card account had a balance of $320. A purchase of $51 was made on August 15, and $158 was charged on August 27. A payment of $78 was made on August 15. The interest on the average daily balance is 1.14% per month. Find the finance charge on the September 10 bill. Part 1 of 3 Based on the data provided in the problem, complete the following table. Date Payment/Purchase Balance Days Balance x Days Aug 10-14 $320 $1600 Aug 15 51 $0 Aug 15-26 -78 $293 12 $3516 Aug 27-Sept 9 158 $451 14 $ $ Total

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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On august 10, a credit card account had a balance of $345. A purchase of $64 was made on august 15, and $165 was charged on august 27. A payment of $71 was made on august 15. The interest on the average daily balance is 1.35% per month. Find the finance charge on September 10 bill. (Round your answer to two decimal places)

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