On July 30, it made a payment of $7,500.00. Vertical Adventures will restore its zero balance on August 31. Construct a full repayment schedule from July 8 to August 31. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.) Payment Date Balance before Transaction Annual Interest Rate Number Interest Accrued of Days Charged Interest (+) or Advance (-) Jul 8 Jul 30 7.45% Jul 31 7.45% Aug 14 7.45% Aug 31 7.45% Principal Balance after Amount Transaction $12,500.00

On July 30, it made a payment of $7,500.00. Vertical Adventures will restore its zero balance on August 31. Construct a full repayment schedule from July 8 to August 31. (Round all monetary values to the nearest penny.) (Use a minus sign before the dollar sign to denote a negative monetary value. For example, "-$149.63".) (Give all "Number of Days" quantities as fractions with denominator 365.) Payment Date Balance before Transaction Annual Interest Rate Number Interest Accrued of Days Charged Interest (+) or Advance (-) Jul 8 Jul 30 7.45% Jul 31 7.45% Aug 14 7.45% Aug 31 7.45% Principal Balance after Amount Transaction $12,500.00

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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Complete the following: (Do not round intermediate calculations. Round your final answers to the nearest cent.). Amount of invoice $ 705 Terms 5/10, n/60 Invoice date 7/25 Actual partial payment made $ 505 Date of partial payment 7/29 Amount of payment to be credited Balance. outstanding
Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $3,000 balance, 11%, $90 payment (a) previous balance method $ Correct: Your answer is correct. (b) adjusted balance method $ Incorrect: Your answer is incorrect. (c) average daily balance method $ Incorrect: Your answer is incorrect.
Answer full question. Round the final answer to 2 decimal points.
A4)
Journalize the transactions. Assume 360 days for interest calculations and record two entries for transactions on January 5th, April 1st and June 20th. Record one entry on December 1. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank. June 1 Received a $1,700, 120-day, 8% note from Heidi Kruczkiewicz to settle an account receivable. July 1 Heidi Kruczkiewicz’s note (see June 1) is discounted at Marshall Bank at a discount rate of 12%. 29 Received notification from Marshall Bank that Heidi Kruczkiewicz’s note was dishonored. (See June 1 and July 1.) A check is issued to cover the maturity value plus a $50 bank fee that must be paid to the bank.
Label all final answers with the correct units, if applicable. Unless otherwise stated, use 4 decimal places for intermediate computations of interest rates (if needed) then round off final answers to two decimal places. For monetary amounts, use 2 decimal places even for intermediate computations. 6. Consider a bank account with the following transactions for the month of June 2021: No. of Days Balance is Balance June Deposit Withdraw for the Day Unchanged * 1 20,000 20,000 * * 14 16,500 10,500 * 21 11,000 * * 30 16,500 4,000 a. Supply the correct data in the boxes marked with * b. What is the average daily balance for this account for the month of June? c. If a bank advertises an interest rate of 1.5% per year compounded monthly, what is the total interest earned for this month?
Suppose that on the statement for a money market account, the initial balance was $7744.70, the statement was for 34 days, the final balance was $7770.84, and there were no deposits or withdrawals. Calculate the APY. Give your answer in percent to 2 decimal places.
A credit card bill for $655 was due on April 14. Purchases of $155.56 were made on April 19. The amount $22.45 was charged on April 21 and $203.36 was charged on April 28. A payment of $500 was made on April 25. Find the average daily balance (in dollars) if the next due date is May 14. (Round your answer to the nearest cent.) $?
Suppose you have a revolving credit account at an annual percentage rate of 12%, and your previous monthly balance is $383.79. Find your new balance (in $) if your account showed the following activity. Use the unpaid balance method. (Round your answer to the nearest cent.)
On the April 5 billing date, Michaelle Chappell had a balance due of $978.09 on her credit card. From April 5 through May 4, Michaelle charged an additional $454.12 and made a payment of $600. a) Find the finance charge on May 5, using the previous balance method. Assume that the interest rate is 1.5% per month. b) Find the new balance on May 5.
One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $580 per month. You will charge .98 percent per month interest on the overdue balance. If the current balance is $14,800, how long will it take for the account to be paid off? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. Number of months
PLEASE TYPE IT AND NOT HANDWRITTEN A credit card has a balance of P129,776.71 on March 1. The credit card holder paid P10,000 on March 15. He made a purchase of P8,862.54 on March 16 and did not use the credit card until the end of the month. The monthly interest rate is 3.50% on purchases and 3.50% on cash advances. How much is the minimum amount to pay at the end of March?

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