Problems 4 and 5 concern Nathan’s credit card which charges 15% A.P.R. Use the "Credit Card Calculator" Google Sheet to solve these two problems. 4) After making a payment at the end of March, the balance on his card is $1587.23. What will be his finance charge for April? A) $16.51 B) $17.62 C) $18.73 D) $19.84 E) $20.95

Problems 4 and 5 concern Nathan’s credit card which charges 15% A.P.R. Use the "Credit Card Calculator" Google Sheet to solve these two problems. 4) After making a payment at the end of March, the balance on his card is $1587.23. What will be his finance charge for April? A) $16.51 B) $17.62 C) $18.73 D) $19.84 E) $20.95

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter6: Using Credit

Section: Chapter Questions

Problem 7FPE

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Homework i Saved If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 9% APR and the following transactions? Note: Round your answer to the nearest cent. 31-day billing cycle 10/1 10/3 Previous balance Credit $ 1,169 $ 74 Credit es 10/12 10/15 Charge: King Soopers $ 153 Payment $ 360 Credit 10/25 Charge: Delta $ 326 10/30 Charge: Holiday Fun $ 66 Amount owed
f you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 31-day billing cycle 10/1 Previous balance $ 1,177 10/3 Credit $ 66 Credit 10/12 Charge: King Soopers $ 161 10/15 Payment $ 440 Credit 10/25 Charge: Delta $ 334 10/30 Charge: Holiday Fun $ 74 What is the amount owed?
Card B has the highest APR. Quentin decides he can afford to pay $280 toward his total credit card debt. If he pays the minimum on Cards A, C, and D this month, how much will be be able to pay on Card B?
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Jerry Allison starts the month with a balance on his credit card of $1,180. On the 10th day of the month, he purchases $340 in clothes with his credit card. On the 15th day of the month he makes a payment on his credit card of $450. The bank charges 1.5 percent interest per month using the previous balance method. What would Jerry's finance charges be for the month? Multiple Choice $17.70 $20.90 $15.20 $25.70 $18.90
Scenario D: Six months later your credit card is carrying a balance of $500. You decide that you want a new TV from Target for $350 and also charge that to your credit card. Since you continuously carried a balance, your credit card company upped your APR from 19.5% to 21%. Assume you do not charge anything extra to your card. 16. What is your starting balance? 17. What is the minimunm payment you must make?
Pls help with below homework, Note : For the purpose of the calculations, please round of the interet rate to1 Decimal place.