Use the unpaid balance method to find the finance charge on the credit card account for December. The balance at the beginning of the month is 580$. The annual interest rate is 17%. The billing date is December 1st. The transactions on the account for the month are given below. November 1 Finance charge for November November 8 Charged $53 November 10 Amazon refund $182 (item not delivered) November 13 Charged $405 (airplane tickets) November 22 Charged $219 (shopping) November 28 Payment $700 The finance charge for November: $ Balance at the end of November: $ The finance charge for December: $ (Round the answers to nearest cent.)
Use the unpaid balance method to find the finance charge on the credit card account for December. The balance at the beginning of the month is 580$. The annual interest rate is 17%. The billing date is December 1st. The transactions on the account for the month are given below. November 1 Finance charge for November November 8 Charged $53 November 10 Amazon refund $182 (item not delivered) November 13 Charged $405 (airplane tickets) November 22 Charged $219 (shopping) November 28 Payment $700 The finance charge for November: $ Balance at the end of November: $ The finance charge for December: $ (Round the answers to nearest cent.)
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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Use the unpaid balance method to find the finance charge on the credit card account for December. The balance at the beginning of the month is 580$. The annual interest rate is 17%. The billing date is December 1st. The transactions on the account for the month are given below.
| November 1 |
Finance charge for November |
|
November 8 |
Charged $53 |
|
November 10 |
Amazon refund $182 (item not delivered) |
|
November 13 |
Charged $405 (airplane tickets) |
|
November 22 |
Charged $219 (shopping) |
|
November 28 |
Payment $700 |
The finance charge for November: $
Balance at the end of November: $
The finance charge for December: $
(Round the answers to nearest cent.)
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