Use the unpaid balance method to find the finance charge on the credit card account for November (that will appear on Decemberbill) T The balance at the beginning of the month is 380$. The annual interest rate is 23% The billing date is December 1st Thetransactions on the account for the month are given below.November 1November 8November 10Finance charge for NovemberCharged $53Amazon refund $124 (item notdelivered)Charged $305 (airplane tickets)Charged $219 (shopping)Payment $700The finance charge added to November bill SThe balance at the end of November. SThe finance charge for November (added to December bill) S(Round the answers to nearest cent)November 13November 22November 28

The unpaid balance method is the method used for calculating the finance charge on a credit card. It…

Use the unpaid balance method to find the finance charge on the credit card account for November (that will appear on December bill) T The balance at the beginning of the month is 380$. The annual interest rate is 23% The billing date is December 1st The transactions on the account for the month are given below November 1 November 8 November 10 November 13 November 22 November 28 Finance charge for November Charged $53 Amazon refund $124 (item not delivered) Charged $305 (airplane tickets) Charged $219 (shopping) Payment $700 The finance charge added to November bil S The balance at the end of November. S The finance charge for November (added to December bill) (Round the answers to nearest cent)

Use the unpaid balance method to find the finance charge on the credit card account for November (that will appear on December bill) T The balance at the beginning of the month is 380$. The annual interest rate is 23% The billing date is December 1st The transactions on the account for the month are given below November 1 November 8 November 10 November 13 November 22 November 28 Finance charge for November Charged $53 Amazon refund $124 (item not delivered) Charged $305 (airplane tickets) Charged $219 (shopping) Payment $700 The finance charge added to November bil S The balance at the end of November. S The finance charge for November (added to December bill) (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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Kathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 12%. Complete the following account activity table for Kathy. Round your answers to the nearest cent. Previous Purchases New Balance Month's Finance and Cash Payments End of Month Balance Charge Advances and Credits Month May $540.00 $177.53 $585.00
Solve the problem. On the January 25 billing date, Vivian had a balance due of $387.19 on her credit card. The transactions during the following month were: January 26 Charge: curtaine $356 January 27 Payment $134.94 $204.30 February 16 Charge tires The interest rate on the card is 1.3% per month. Using the average daily balance method, find the finance charge on February 25 (January has 31 days). $9.02 $8.96 $2.59 $9.08 00
Use the average daily balance method to compute the finance charge on the credit card account for the month of august (31 days). The starting balance from the previous month is $240. The transactions on the account for the month are given in the table. Assume an annual interest rate 17% on the account and that the billing date is august 1. 8/5 payment of $89 8/12 charged $130 8/16 charged $27 8/25 charged $26 what is finance charge of august
Use the unpaid balance method to find the finance charge on the credit card account for April. The starting balance from the previous month is $200. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 18% on the account and that the billing date is April 1st. ..... Date Transaction April 3 Charged $125 for a coat April 11 Made payment of $142 April 21 Charged $34 for DVDs April 28 Charged $25 for groceries The finance charge for the month of April is $enter your response here.
For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.1% per month on the average daily balance Find (a) the average daily balance, (b) the monthly finance charge, and (e) the account balance for the next billing Previous Balance: $485.26 January 13 Billing Date January 15 Retums January 20 Clothes January 27 Bus Sickets February 2 Payment February 6 Flowers $105.09 $114.34 $76.83 $130 $64.41 (a) The average daily balance is (Round to the nearest cent as needed.) (b) The finance charge is (Round to the nearest cent as needed) (c) The account balance for the next billing is $ (Round to the nearest cent as needed.)
The activity on Denise Hellings' Sears account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is March 1 through March 31, the previous balance was $152.72, and the annual simple interest rate is 21%. (Round your answers to the nearest cent.) March 5 payment $20.00 March 17 tools $35.43 average daily balance $ finance charge $
Use the unpaid balance method to find the finance charge on the credit card account for April. The starting balance from the previous month is $240. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 16% on the account and that the billing date is April 1st. The finance charge for the month of April is $ (Round to the nearest cent as needed) Date April 3 April 15 April 22 April 29 Charged $125 for a coat Made payment of $148 Charged $31 for DVDs Charged $32 for groceries Transaction
3. Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is $220. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 16% on the account and that the billing date is August 1st. The finance charge for the month of August is $ (Round to the nearest cent as needed.) Date August 7 August 13 August 19 August 31 Transaction Made payment of $89 Charged $140 for hiking boots Charged $22 for gasoline Charged $34 for restaurant meal
Use the unpaid balance method to find the finance charge on the credit card account for August. The starting balance from the previous month is $240. The transactions on the account for the month are given in the table to the right. Assume an annual interest rate of 21% on the account and that the billing date is August 1st.
Using the unpaid balance method, find the current month's finance charge on a credit card account having the following transactions. Last month's balance: $615 Last payment: $80 Annual Interest rate: 21% Purchases: $484 Returns: $545 The finance charge is $___ (Round to the nearest cent.)

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