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.
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.
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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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.
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