QUESTION 2 Use the average daily method to find the finance charge on the credit card account for September (that will appear on the October bill). The starting balance from the previous month is 280$. The transactions on the account for the month are given below. Assume an annual interest rate of 26% on the account and that the billing date is October 1st. September 1 September 3 September 10 September 13 September 22 The starting balance is 280$ Charged $123 Made a payment of $ 350 Returned $25 Charged $89 The finance charge is $ (Round the answer to nearest cent as needed. Type dollars and cents in the two given blanks.)
QUESTION 2 Use the average daily method to find the finance charge on the credit card account for September (that will appear on the October bill). The starting balance from the previous month is 280$. The transactions on the account for the month are given below. Assume an annual interest rate of 26% on the account and that the billing date is October 1st. September 1 September 3 September 10 September 13 September 22 The starting balance is 280$ Charged $123 Made a payment of $ 350 Returned $25 Charged $89 The finance charge is $ (Round the answer to nearest cent as needed. Type dollars and cents in the two given blanks.)
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
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Transcribed Image Text:QUESTION 2
Use the average daily method to find the finance charge on the credit card account for September (that will appear on the October bill). The
starting balance from the previous month is 280$. The transactions on the account for the month are given below. Assume an annual interest
rate of 26% on the account and that the billing date is Cctober 1st.
September 1
September 3
The starting balance is 280$
Charged $123
Made a payment of $ 350
September 10
September 13
September 22
Returned $25
Charged $89
The finance charge is $
(Round the answer to nearest cent as needed. Type dollars and cents in the two given blanks.)
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