Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annualpercentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the nearest cent.)PreviousFinancePurchasesNew BalancePaymentsand CreditsMonth'sMonthCharge(in $)and CashEnd of MonthBalanceAdvances(in $)(in $)April$647.17$14.56$38.45$85.00$615.18May$281.33$145.00$

Finance Charge: It refers to the cost of borrowing like interest paid on debt.

percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the r Previous Finance Purchases New Balance Month's Charge (in $) Payments and Credits Month and Cash End of Month Balance Advances (in $) (in $) April $647.17 $14.56 $38.45 $85.00 $615.18 May $ $281.33 $145.00 24 %24 %24

percentage rate is 27%. Complete the account activity table for Kathy. (Round your answers to the r Previous Finance Purchases New Balance Month's Charge (in $) Payments and Credits Month and Cash End of Month Balance Advances (in $) (in $) April $647.17 $14.56 $38.45 $85.00 $615.18 May $ $281.33 $145.00 24 %24 %24

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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
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 $
The table below shows the activity on the credit card statement of Miss Pepper Mills for the month of April. She started the month with a balance of $342.57 earning 3 % simple interest for ! Location Amount Payment Gas Activity Payment Charge Charge Charge Date $200.00 $26.37 04/05 04/15 04/22 04/25 Macy's Starbuck's $4.24 $105.42 a. Find the average daily balance. b. lf her card charges an 18.5 % annual interest rate on her average daily balance, calculate Miss Pepper Mill's finance charge for the month of April.
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
Suppose that your credit card activity for December looked like this: Date Activity December 5 $234 purchase December 11 $357 purchase December 15 $312 purchase December 21 $494 purchase December 25 $131 purchase What was your average daily balance for December? Round your answer to the nearest dollar
I could use some help with filling this out
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
What does 18/360 from? Thank you.
Dallas Pierce's most recent credit card statement follows. Her finance charge is 18% APR. Calculate Dallas's average daily balance, finance charge, and new balance. Note: Round your final answers to the nearest cent. 9/2 9/7 9/13 9/17 9/28 Average daily balance Finance charge New balance 30-day billing cycle Billing date Payment Charge: Kohl's Payment Charge: WalMart $1,110 $340 $ 330 320 115 Previous balance Credit Credit
How to do this, please explain. Thank you.
The credit card with the transactions described in the popup below uses the average daily balance method to calculate interest. The monthly interest rate is 1.5% of the average daily balance. A. Find the interest to be paid on july 1, the next billing date. Round to the nearest cent. The interest to be paid on july 1 $__
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the average daily balance Find (a) the average daily balance. (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $455.28 January 12 Billing Date January 15 Returns January 21 Clothes January 25 Bus tickets February 4 Payment February 7 Flowers $102.86 $117.89 $89.76 $125 $66.36